Denver’s real estate market is growing rapidly due to the city’s strong economy and popularity. This article explores the various investment opportunities available in Denver, which offers diverse economic opportunities, a growing population, and tourist attractions. The housing market has cooled off from last year, but 2023 remains positive. Investors should consider factors such as tourism, population dynamics, and local attractions when making investment decisions.
Overview of the Denver Real Estate Market
Denver is a rapidly growing city with a strong economy, attracting young professionals and families. The city is experiencing significant development, leading to high demand for housing and driving up prices. Real estate investing in Denver is attractive, but the market is expected to settle in 2023. The market is competitive with a score of 71 out of 100 and has appreciated 146.94% in the past decade. However, active listings are currently below the historical average, at 7,683.
Residential Real Estate Opportunities in Denver
The Denver residential real estate market is attractive for investors due to its high demand for housing, strong economy, and diverse property options. Despite high prices, Denver remains a competitive market with a strong ranking for investment and development. In 2023, the market is expected to have more balance, with a 1.9% decline in home values according to Zillow. Neighborhoods like College View-South Platte, Westwood, and others are suitable for short-term rental investments.
The median listing price in December 2022 was $562.5K with a 7.1% YoY increase, while the average house price was $528K, a 4.3% decrease from the previous year. The median sale price for detached homes was $600K, with a 2.44% decrease from November and a 0.01% decrease from December. The typical home value in Denver is $623,003, up 7.7% in the past year. Forbes Advisor predicts the average close price for the Denver housing market in 2023 to be $671,024 with a median close price of $580,000..
Commercial Real Estate Opportunities in Denver
The Denver commercial real estate market is active with 804 properties available for rent and 440 listings for sale. There are 180 jobs related to commercial real estate available and Showcase.com provides details for listings. The city is home to many businesses and has a thriving economy, which is reflected in the high prices of commercial properties.
Despite this, Denver remains an attractive market for investors due to its strong economy and opportunities. The vacancy rate of the Metro Denver office market increased slightly in 2021 Q1. However, commercial real estate leaders see growth post-pandemic. The Denver-Aurora-Lakewood commercial real estate market is stronger compared to the US overall, as per NAR Commercial Real Estate Metro Market Report 2021 Q2.
Investment Properties in Denver
Denver is a vibrant real estate market with a variety of investment opportunities, from luxury estates to affordable single-family homes. Popular neighborhoods for investment properties include Hampden South, West Colfax, Congress Park, Gateway, Mar Lee, Glenwood Springs, and Rosedale. Zillow and Redfin both provide listings of rental income properties in Denver, while Mashvisor offers listings of investment properties.
Investment properties in Denver provide an excellent opportunity to generate passive income, or for active investors, to profit from the market. Rental property taxes in Denver are based on federal standards, which are 20% or less. Tax deductions for rental properties include property taxes, depreciation, mortgage interest, repairs and maintenance costs, and insurance premiums. The Denver housing market has seen an 8.8% increase in rents over the past year, with the median home value increasing 19.1% over the same period. DMAR releases monthly reports that track market trends.
In a nutshell, The Denver housing market is expected to become more balanced in 2023, with declining home prices and continued growth potential. Popular neighborhoods for real estate investment include Hampden South, West Colfax, Congress Park, Gateway, Mar Lee, Glenwood Springs, and Rosedale. Denver also offers a variety of commercial real estate investment opportunities through companies such as BENITEZ INVESTMENTS LLC, and Foreclosure.com. With a strong economy and affordable monthly payments, Denver remains a attractive market for both residential and commercial real estate investment.
Denver is a top city for real estate investment, ranking 13th in the US. The best areas for investment include Elyria Swansea, Sun Valley, Five Points, Westwood, and Valverde. Rental properties are popular in these areas as well as the City of Denver. The Denver Metro real estate market had a productive year in 2021 and offers new opportunities for buyers and investors in 2022.
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