YCRE Price Change Map

The latest YCRE Price Change Map has just been published. 
Please let me know if you would like a larger copy or a map of an area that is not shown here!

Red - Neighborhoods with little or no change in value
Green - Neighborhoods with the greatest positive change in value

Denver Neighborhood Trends

A friend recently asked me which neighborhoods in town were appreciating the most … I didn’t know the answer off of the top of my head but did a little digging.  

A recent analysis by YCRE looked at the market in various Denver neighborhoods comparing the movement and sales price in the past 12 months to the 12 months prior to that.  Below is the information for a couple neighborhoods that you might be curious about.

I thought it was interesting to note that even if a neighborhood did not have more sales than the prior year – all of them had an increase in sales price.

 

As for which neighborhoods had the biggest change:

·        *   Evergreen Park, Aspen Meadows and Jefferson Park were some of the top neighborhoods with over 100% increase in sales.

·        *   Globeville had the greatest increase in sold prices – 51%!

Another Look at the Real Estate Market

Here is another interesting graph showing the relation between the number of single family home sales and the increasing population in Denver.

YCRE Quarterly Meeting

Last week I attended Your Castle Real Estate's Quarterly meeting.  The owners of the company reviewed the "State of the Denver RE Market".  Below is a quick summary.  

Please let me know if you would like to see more detailed information.

 

Charles Roberts summarized the "Trends for the Denver Real Estate Market":

• Overall still a very strong market
• Sales prices increased by 10% city wide over the past year
• Inventory remains low
• The market remains a sellers market - Lon Welsh, owner of YCRE, predicts that the market will remain a "sellers market" for the next 3-5 years.

 City of Denver's Mayor Hancock is currently using the YCRE price change map to track the impact of the improvements they are currently making city wide.  The large map was seen hanging on the Mayor's office walls.  Let me know if you would like a copy too!

 

Did you know which Denver neighborhood had the largest price change last year?

Globeville had a 41% price increase in 2013

Globeville is located at the intersection of I-70 and I-25

3270 and 3274 Vrain - SOLD!

We closed on both Vrain units this past week. 

Thanks again to everyone that was involved in this project.  It has been a fun one!

Now we are ready to start shopping for our next project.  :)

Denver Inventory Trends - Another cool chart .... still very little inventory in the Denver Market!

Denver Post predictions for RE in 2014

Denver Post's article yesterday cited several "local experts" all pointing to another strong, but more balanced real estate market in 2014.  The entire article can be found here:

Denver housing market seen as finding balance in 2014

An interesting note at the end of the article, pointed to 5 strong neighborhood attracting buyers - they are:

1. City Park
2. Skyland Neighborhood
3. Wadsworth corridor south of I-70
4. Kipling Street nort of US6
5. Applewood Valley

 Why?  What do these homes have in common?

• they have an older housing stock that needs updating
• they have direct routes into downtown or are close to the mountains
• they are all neighborhoods with character

As an investor and real estate broker, I agree ... these are all great neighborhoods!