As with many major cities across the nation, the Denver real estate market’s love for condos has continued to increase in record numbers over the years. Much like the country’s former obsession with town homes, beach homes, and level entry homes, condo life in Denver is a trend that is here to stay. Part of the popularity is related to the availability of condos and their accessibility in a financial regard. With many condos starting on the market at costs far lower than an average single family home, condos are ideal for first time buyers in Denver, empty nesters, or the average working couple.
The Lower Downtown area, known to Denver residents as LoDo, is celebrating its platinum anniversary in 2008, and with that comes an influx of condominium high rises, and potential first time buyers. With rapid expansion in the Uptown, Capital Hill, DU, and Stapleton areas, Denver’s residential condo market is increasing, as more people move back into the city from the metro-area suburbs. Capital Hill has gained 4,000 new residents in the past four years, and industry experts expect that number to continue to rise as young professionals choose to remain within Denver, where the action is.
The Metro Denver area has a population of 2.7 million people, with a growth rate that is estimated to increase by nearly 50 percent to almost 3.9 million, with over 800,000 jobs being created to help support the growing economy. Metro Vision 2030, a strategy developed by the Denver Regional Council of Governments to preserve Denver’s high quality of life while making room for the region’s staggering growth. The plan is to define a 750-square-mile urban growth boundary and provides boundaries for close to 70 high-density, mixed-use developments, condominiums, and transit centers. Now is the perfect time to buy and beginning planning for the future. According to the National Association of Realtors, the national median single-family home price was $217,800 in 2007, while the Metro Denver median sales price of an existing single-family home was $245,4000. In contrast, median condo prices are higher than single-family home prices nationally, which isn’t the case here in the Metro Denver area where condos are nearly $100,000 less than residential housing according to a 2005 study. Buying a condominium makes sense for a number of reasons.
Denver condominiums are a convenient, accessible and affordable option for those looking to settle into the heart of the Mile-High City. Purchase a condo in Denver’s LoDo area, and you are within walking distance to the Colorado Convention Center, the Denver Performing Arts Complex, Coors Field, and hundreds of retailers and restaurants. Condos in the Capital Hill area provide easy access to numerous parks, the Denver Art Museum, and concert venues such as The Fillmore and The Ogden. Condo units in the Cherry Creek North area are a socialites dream with over 320 businesses to choose from, including some of Denver’s finest boutiques, spas, restaurants and galleries. With gas prices soaring, leaving the car parked is becoming an attractive option. Known as the mile high city for its 5280 foot elevation, Denver is a bustling metropolis settled snuggly in Colorado’s Rocky Mountains. Within the city’s limits, condos are selling fast. Whether for main dwelling use or vacations rentals, condos in Denver may, in fact, be one of the hottest markets in real estate right now. After all, downtown Denver has it all within walking distance so a condo suits the lifestyle perfectly. The landscape of the Denver real estate market has changed in line with the growth of the city. The streets, once laced with single family homes, have kept up with the influx of businesses that cater to a more active lifestyle for the different demographics which now make up the area. Denver.CondoCompany.com, the premier guide and portal for condos and condo real estate, can help locate the perfect dwelling for families and singles alike. To really capture the flavor of Denver, a condominium in the middle of the action may be your best bet. Condos for sale in Denver areas such as the Berkeley Park region are being snatched up quickly. This area is one of the oldest sections of the city and features ten blocks of burgeoning businesses and condo real estate ready as a home or for vacation rentals. Condos for rent in Denver are plentiful and can suit a more transient lifestyle until a permanent condo can be found.
Try Denver.CondoCompany.com, the leading online source for Denver condo real estate, to locate vacation rentals or condos in the popular Highland neighborhood, for instance. In this trendy area, real estate in the condominium market is popping up everywhere. Starting out as a blossoming real estate market to the immigrant community, the area is now home to condos and other real estate ventures, as well. Additionally, the area features hot new restaurants and charming neighborhood shops. The condo market in the popular Pearl Street area is another possibility for those considering the Denver area for vacation rentals or a permanent home. An area popular for its abundance of trees and eclectic shops, this area has many nearby condos featuring older architectural styles and the appeal of a more established community. Vacation rentals in the condo or single dwelling home market may not be as easy to come by, but the Pearl Street area is a must see for Denver.CondoCompany.com real estate shoppers. Condos for rent in Denver’s Cherry Creek neighborhood are beautifully updated and modern. The nearby mall and shops are part of a major trend toward higher end boutique shops. Restaurants in this area also cater to this market. For those seeking a condo in an area popular among the hip, professional community, Cherry Creek is a hot option.
In the summer time, residents also enjoy a Farmer’s Market full of fresh vegetables, fruits and local products. For your condo needs, Denver.CondoCompany.com is your one stop resource. Searching for a vacation or permanent condominium in any of the Denver metropolitan areas, an educated decision will come easy and you will find the condo home or vacation rental of your dreams. For more information about Denver and the Rocky Mountains please visit Rocky Mountain Magazine