Showing posts with label Denver house market. Show all posts
Showing posts with label Denver house market. Show all posts

Tuesday, August 7, 2018

5280 Neighborhood Guide: East Colfax community promises eclectic eats, retreats, and history.




Sometimes change seems to happen all around you, but not to you. Such is the case in Denver’s East Colfax neighborhood, whose immediate neighbors—Lowry and Stapleton—have both recently received residential and commercial makeovers. Soon, though, the 684-acre enclave of East Colfax (the local neighborhood association embraced the name, instead of East Montclair, this past August) is poised for a transformation.
Last fall, the city of Denver purchased the defunct PT’s strip club at East Colfax Avenue and Valentia Street with hopes of turning it into a community gathering spot or an affordable housing development. And in November, Denverites approved a general obligation bond allotting $55 million for the East Colfax Bus Rapid Transit project, which will run along East Colfax Avenue between the Auraria Campus and the University of Colorado Anschutz Medical Campus. But the neighborhood already boasts a bevy of gems, including diverse eateries, inviting coffeeshops, and an attraction that no amount of development can alter: unique Colorado history.

Eat

During the past 20 years, East Colfax has become home to refugees from East African and Southeast Asian countries such as Somalia, Bhutan, and Myanmar. So in addition to long-standing Latin American restaurants like Tacos Acapulco (try the pupusas) and 7 Leguas Mexican Grill (get the tacos al pastor), flavor seekers can also enjoy authentic Ethiopian-style lentils and injera (flatbread) at Lucy Ethiopian Restaurant and Bar and pick up specialty groceries like jasmine tea and Thai durian crackers at Family Asia Market. For a caffeine fix, there’s Pablo’s Coffee. 
Image result for pablos coffee denver

Play

East Colfax might not have a big, shiny community hangout like Stapleton’s Stanley Marketplace (yet), but it does offer a distinct community vibe all its own. The best place to find it? Quince Essential Coffee House, where java junkies can pair beans from Kaladi Coffee Roasters (Denver) and Jubilee Roasting Co. (Aurora) with board games and open mic nights. For more structured socializing, head next door to the Sprightly Escapes escape room: Your team of friends or colleagues will work together to break out of an old motel (fitting) or save the dinosaurs from extinction.

Explore

Between the decommissioned Air Force base in Lowry and the string of neon-signed hotels along the neighborhood’s main drag, East Colfax offers a one-of-a-kind glimpse into east Denver’s past and present. For a complete picture, consider a bike tour of the area, starting with the neighborhood’s northern border on Montview Boulevard. Head south on Ulster Street where, from the 1920s to the 1950s, the houses at 1740 and 1760 served as part of the Greeters of America Home—a guesthouse and gathering place for members of the hospitality industry. Continue south toward East Colfax Avenue along either Valentia or Trenton streets—welcoming residential roads dotted with classic Denver bungalows—and reward yourself with a cheap beer at the Hangar Bar. Opened by two Denver women in 1938, this time-honored dive was a popular hangout for Lowry pilots and military personnel during WWII.
Image result for hangar bar east colfax
-Jeff Waraniak, 5280 Magazine  


Wednesday, June 1, 2016

Thinking of moving to Lowry Field, Colorado?

Lowry Field, Colorado



Housing Market Trends

Market trends help you understand the movement of key price indicators. Trends in Lowry Field show a 36% year-over-year rise in median sales price and a -22% drop in median rent per month.

Median Sales Price
The median sales price for homes in Lowry Field for Feb 26 to May 25 was $510,000 based on 31 home sales.
Price Per Square Ft.
Average price per square foot for Lowry Field was $265, an increase of 11% compared to the same period last year.
Median Rent Per Month
The median rent per month for apartments in Lowry Field for Apr 29 to May 29 was $1,725.


Crime
Lowry Field has very low crime relative to the rest of Denver County.
Knowing more about crime activity in Lowry Field can help keep you aware of crime in the area. Crime activity is most helpful when comparing two locations to understand the relative safety of each location.
233
COUNTS OF THEFT
92
COUNTS OF BURGLARY
45
COUNTS OF VANDALISM

Demographics

Get to know your neighbors in Lowry Field by reviewing our census driven map. Get insights into median age, how many people are married, and percentage of people with a college degree.
42%
SINGLE RESIDENTS
70%
HOME OWNERS
37
MEDIAN AGE
$90,952
MEDIAN HOUSEHOLD INCOME
78%
COLLEGE EDUCATED

Commute

Most people in Lowry Field commute by car. Learn how neighbors in this area get to work so you can consider how you might commute if you lived here, too.
93% commute by car
4% commute by public transportation
3% commute by other means (not biking or walking)

Source: Trulia

Wednesday, March 23, 2016

Will Denver's Bubble Burst? Denver House Guy University Part 1 of 4: Inventory


The real core of a market's strength or weakness is supply and demand. Let's use a simple example: 

You have a lemonade stand on a street corner and you buy 30 pounds of lemonade powder for the weekend.

Scenario 1: There are 10 other lemonade stands on your street. One person buys a cup of lemonade from you for $1. You still have like 29 pounds of lemonade powder. That is lots of supply, and no real demand. You are losing money. You will probably need to shut down your business soon. (This is what was happening in 2008.)

Scenario 2: You are the only lemonade stand on the street and have a line down the street waiting to buy from you and you sell out quickly in 1 day - people are willing to pay $10 to get a cup of lemonade from you. There is a lot of demand, and not enough supply. You can even open up a second and third stand and still have plenty of buyers. You may become rich. (This is what is happening in Denver right now.) 
And say for some reason in Scenario 2 more and more people kept coming to your street each week because they hear how good the lemonade and weather are. You will have even more demand. 

In 2007 Denver Metro had 25,000 homes for sale, and about 5,000 homes were being sold each month. That is a lot of supply and not much demand. That would take about 5 months for buyers to absorb all the houses for sale on the market. Today there are about 4,300 homes for sale in metro Denver and 4,100 are being sold each month! That is almost total absorption, meaning each month buyers are buying almost all the homes that come up for sale. 

In short: Back in 2007 we could see clues for the recession and the bubble burst because of such high supply of homes for sale, and not enough demand. But today the demand is so high, and supply is so low (and has been for 4 years), and rents are so high, that the demand itself is showing hard evidence of economic thriving in the Denver housing market for years to come, especially since 50,000+ people move to Denver each and every year.   


Tuesday, October 14, 2014

Denver Metro Real Estate Market Trends

These geeky kind of stats, averages, and trends are actually really important since they give us a good picture of what has happened recently, how it compares to where we were 1 year ago, and what it may say about what is to come. 

Market Insights:

  • Average sale price for single family homes was $361,307, down 2.36% from August and up 7.13% from September 2013
  • Median sale price for single family homes remained unchanged at $310,000 from the previous month, but up 10.27% year-over-year
  • Condo market showed an average sale price of $217,792, down 0.76% from August and up 7.34% from September 2013
  • Median sale price for condos was down 1.34% to $180,000, but showed a significant year-over-year increase of 13.71%
  • The current year-to-date sales volume for residential (single family and condo) was $13.271 billion which represents a 3.18% increase from 2013 and a sizeable 37.73% increase compared to 2012.
By the numbers, the inventory of available single family residences and condos for sale was 7,556 at September month end: 5,045 homes came onto the market, 4,622 homes were placed under contract, and 4,737 homes closed at a median sold price of $275,000 and an average sold price of $319,619 resulting in a closed dollar volume of $1.5 billion. 

Residential (Single Family plus Condo): 
Active Inventory: 7,556   -6.93% prior month   
Sold Homes: 4,737 -8.87% prior month
Average Price: $319,619-2.72% prior month
Median Sold Price: $275,000  -0.31% prior month
Average Days on Market: 33   10.00% prior month
Single Family: 
Active Inventory: 6,155   7.00% prior month
Sold Homes: 3,361  -10.75% prior month
Average Price: $361,307  -2.36% prior month
Median Sold Price: $310,000    0.00% prior month
Average Days on Market: 36   12.50%  prior month

 
Condo: 
Active Inventory: 1,401    -6.66% prior month
Sold Homes: 1,376 -3.91% prior month
Average Price: $217,792 -0.76% prior month
Median Sold Price: $180,000  -1.34% prior month 
Average Days on Market: 28 16.67% prior month