As I have been relentlessly preaching recently, Denver's real estate market is coming back. But this normally raises the question of "where is the hottest place to buy right now?". It is one thing to be in the industry a see this on a day-to-day basis, or to have a friend at work recommend ______, but to actually be able to visualize it is another. Below is a heat map of the 12 month change in estimated value (I pulled this just now, so it is current as of 6.23.12 @ 10:45am):
Here is how the map breaks down:
While there are clearly smaller pockets on the map, the areas that I want to highlight as the hottest in Denver are the closest suburbs to downtown. For the last decade or so, we have been seeing a lot of reurbanization (may have just made that term up). By this I mean that people are moving from the distant suburbs, trading in their 2,500sf+ home, and downsizing along with the desire from my generation to live in urban centers. The increased values in these areas can be attributed both to new commercial ventures, renovations being done on the homes and a spike in demand.
Factor in the charm of the homes and the areas, and it is easy to see why people are making the move. Boutique shops, parks, mass transit, events, bike trails and more social interaction with your neighbors are all key reasons why we are seeing Highland, Five Points, City Park, Park Hill, Baker, LoDo & Riverfront start to boom again.
If you live in one of these areas, I'd love it if you would share what you like about it below. Thanks for reading.