Posts Tagged ‘denver real estate’
Denver Real Estate – The Current State of Affairs
The general market downslide has been avoided by the Denver Real Estate market. You will find that the Denver real estate market has been able to maintain a steady course for several reasons. The average home value for a Denver home is about 2,000. The Denver real estate market is very desirable at this time because of this. The city houses fascinating mountain views and many outdoor activities with 550,000 residents even though it is literally a mile high at 5,280 feet.
There are many activities that residents enjoy participating in such as the Denver Center for the Performing Arts. Surprisingly the arts center is the second largest in the United States. The Red Rocks Amphitheatre is also well known as it is carved from red boulders.
Home owners and renters are split almost 50/50. About half of the homes in Denver are single family detached homes. Another almost 40% are complexes or high rise apartments. The fact is that the Denver real estate market leans towards single family homes.
Home sizes can vary greatly and have more than 5 bedrooms or not even a single bedroom. The majority of homes, 32%, in the area are 2 bedroom homes however 1 bedroom homes come in at 25% and 3 bedroom homes at 23%.
The historic past of the Denver real estate market is clearly shown. In fact, only 5% of the homes in the area are homes that post date 1995. 42% of the homes in Denver, which is nearly half, were built between 1940 and 1969. Another 25% of the Denver real estate are considered historic and were built before 1939.
With all of these steady numbers it’s not surprising to note that 53%, which is over half of the Denver real estate market, falls between 5,000 and 1,000 for an average home value range. In addition you will find that 19% of homes fall between 1,000 and 7,000 for home values. With just these two home value ranges they account for 2/3 of Denver homes.
Denver condos are another large portion of the real estate market and are vital to many living in the city. In many cases condos are preferred over homes because of the advantages they offer. Luxurious condos exist near downtown Denver which give residents a luxurious place to live while still being close to downtown.
Many of the homes in Denver fall between a price range of 5,000 and 7,000 which gives anybody a chance to own a home. You will find that homes have a median square footage of 1,254 square feet. In most cases this averages out to be about 0 to 0 per square foot in a home. The Denver Real Estate market is healthier than many other markets in the country due to the fact that it is popular and that it is a buyer’s market.