What makes Denver so great?! Current residents already know. The rest of the country is starting to catch on to Denver’s sheer awesomeness, and as a result many are making the move to our fair city.
The influx of so many new residents is due to an increased desire of homeowners to live in a more affordable city. Denver represents the best of both worlds: it offers the food, culture, activities, and quality of life that are on par or exceed that of coastal cities like New York, San Francisco, and Boston, while at the same time maintaining a healthy affordability factor.
What is creating this draw?
1. The mix of affordability, quality of life, a burgeoning downtown, and open spaces.
2. The growing young population is encouraging the development of apartment and residential projects. Denver has tied Seattle for the third-biggest increase in 25-34 year old residents from 2008-2012.
3. Colorado is home to some of the nation’s most popular skiing destinations, not to mention the great food scene, art galleries, bars and nightclubs.
4. New companies that are seeking an educated workforce are helping to drive the unemployment rate down lower than the national average. In October Denver’s unemployment rate was 6 percent, compared to the 7 percent nationwide average.
All of this new growth is being seen in the housing market as well. The median sales price of a single-family home in Denver has raised 9.7% since the third quarter and the number of days on market has dropped significantly. Home prices are beginning to top the height of the 2006 market.
New resident, Lyndsey Lodha said “We were impressed by the burgeoning food scene, young, professional population, as well as the diversity and growth,” and “the cost of living is lower than other major cities, which allows our dollar to stretch a little farther. Denver really does have everything we are looking for in a forever home.”
For more information visit http://www.bloomberg.com/news/2013-12-31/denver-real-estate-booms-as-ski-slopes-trump-nyc-bustle.html