Feature

Denver Real Estate 2012

We may not be in a citywide bull market, but there are plenty of reasons to feel pretty darn good about real estate in the Mile High City this year. This is especially true of Highlands, which has become a nationally recognized, trendsetting model for the possibilities of 21st-century new urbanism. Here’s how Highlands became the hottest part of town—and which local neighborhoods might be next.

May 2012

LOCATION: Areas with easy access to downtown, other neighborhoods, and freeways

BAKER

DOM  (Days on Market): 86, Average Sale Price:  $264,000, Price Change (Year over year from December 2010 to December 2011): + 6 percent

Although Baker seems to have enough amenities to become the next Highlands—from nightlife and inventory to the preponderance of hipsters—it also has limitations such as small lots and occasionally sketchy blocks. “Baker’s a good example of what Highlands was like in 1995,” says Charles Roberts of Your Castle. “It’s wonderfully transitional, but you don’t want to end up in the wrong part of it.”

Ones to Watch

Capitol Hill—DOM 153, Average sale price $423,000, Price change - 2 percent

Curtis Park (Five points)—DOM 117, Average sale price $284,000, Price change 0 percent

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MIX OF RETAIL/RESIDENTIAL: Areas that tastefully blend residential comfort with lively retail centers

BERKELEY WEST

DOM: 89, Average sale price: $292,000, Price change: + 6 percent

A neighborhood on the rise, thanks to the improving Tennyson Street Cultural District and its proximity to Highlands and freeways. “Tennyson Street gives residents more options than just one or two restaurants or coffee shops, and the area is trending along the lines of Highlands with a mix of new builds and fixer-uppers,” says Liz Richards of Kentwood City Properties.

Ones to Watch

Cherry Creek—DOM 120, Average sale price $814,000, Price change - 7 percent

Platt Park South—DOM 59, Average sale price $394,000, Price change + 5 percent

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WALKABILITY:Areas with a variety of attractions within walking distance

STAPLETON

DOM 94, Average sale price $432,000, Price change + 1 percent

This area is more than fulfilling its new-urbanist mission, with plenty of parks, an evolving commercial district, and a planned light- rail line. “Stapleton is one area where values have held up, and a lot of new residential and commercial development is going on,” says Lina Krylov of ERA Herman Group Real Estate.

Ones to Watch

Cherry CreekDOM 120, Average sale price $814,000, Price change - 7 percent

Downtown (CONDOS < $500,000)—DOM 87, Average sale price $274,800, Price change  + 1 percent

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SPREADING THE WEALTH:Areas whose attractiveness is helping surrounding neighborhoods grow and thrive.

WASHINGTON PARK EAST

DOM 110, Average sale price $597,000, Price change + 2 percent

This old standby remains as attractive as ever, and its desirability is helping sustain the tonier Belcaro and Cory-Merrill neighborhoods through a tough down period, while extending its reach to areas like University and Virginia Village. “In a neighborhood like Virginia Village, which is right near these areas, you can get a lower price for decent-size lots and a good location,” says Lane Hornung of 8z Real Estate.

Ones to Watch

City Park West—DOM 54, Average sale price $351,000, Price change + 34 percent 

South Park Hill—DOM 76, Average sale price $442,000, Price change + 5 percent

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