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Downtown Denver Prices Up 14% This Year
by John Judwig, Downtown Denver Expert
Yes, you read that headline correctly – residential condo prices in Denver’s 80202 zip code (primarily in downtown bounded by 14th, Lincoln, 20th, I-25) are actually up a solid 14% so far in 2008 over the same period last year. Per MLS data, both median prices and average prices are on the rise in the area that includes LoDo.
So far this year prices are above the $500,000 mark on average and it doesn’t look like that will change anytime soon with high end condo projects like the Ritz Carlton and Four Seasons on their way to completion.
Besides LoDo, the area also includes Riverfront Park where development continues to move forward as it has for the last 7 years or so. Riverfront continues to be a major force in the Denver market, balancing the lifestyle of a brand new neighborhood adjacent to an existing, buzzing, and vibrant city center just over the Millennium Bridge. And right in the center of it all sits Union Station, prepped and ready for its facelift as the crown jewel of Denver’s FasTracks plan approved years ago by city voters. Union Station is set to become a hub for Denver’s expanding mass transit systems.
And don’t forget the Democratic National Convention slated for later this summer. All eyes will be on Downtown Denver and it is sure to shine! With all this great action, it’s easy to see why living downtown continues to be as popular as ever!
Comments
One Response to “Downtown Denver Prices Up 14% This Year”
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Downtown and Central Denver are certainly marching forward. Prices continue to remain steady, but sellers should use a professional broker to help them understand the circumstances of their particular area and building when pricing their condo.
Factors that can influence the price of a loft or condo are parking, location, strength of the HOA and amenities in the building. Make sure to ask questions when you’re looking for a loft or condo downtown, and get all of the answers before making a purchase decision.
Gretchen Faber
http://www.gretchensdenver.com