Cities Do Better In Flat Real Estate Market

By John Ludwig, Downtown Denver real estate expert

We have all heard the not-so-great news of late pertaining to the housing and mortgage markets. In Denver, prices generally seem flat from one year ago according to most sources. However, an August 29, 2007 Wall Street Journal online article pointed out that several of the housing analyses out there right now look at only single family residential sales.

In a recent survey by Standard & Poor / Case-Shiller, analysts noted rising prices in parts of New York City amidst a decline in the suburbs. This divergence is apparent in other markets across the country, where tony urban locales seem to be sheltered from the market nervousness and foreclosure problems plaguing other areas.

In Denver, Coloradothis is certainly true as well.

According to MLS data, the summer months of 2007 saw about a 3% increase in the median price of a condo in the city of Denver over the same months in 2006. Narrow the focus to Downtown Denver and the median price is 4% higher.

Central Denver boasts several areas experiencing exciting change and growth. Next time you have a chance, check out these great spots and see for yourself why central Denver is a great place to live, work and play:

- 17^th & Wynkoop in LoDo. Great spot to see the authentic buildings of LoDo juxtaposed with Riverfront Park just opposite the soon-to-be-renovated Union Station.

- 15^th & Central in LoHi. Creative energy abounds with new eateries, bars, and condos

- 32^nd & Lowell in Highlands. Still the standard on which all new development is based.

- 7^th & Santa Fe. Especially for First Friday Art Walk

- 14^th & Welton. Doesn’t look at all the same. New hotels everywhere, luxury high rise apartments a couple blocks over.

- 17^th & Washington. Uptown’s nightlife keeps getting better.