Northwest Denver Places Two Neighborhoods in 5280’s Elite Eight
Saturday, 2 May 2009 by Dave
5280 Magazine has been running an annual real estate issue for as long as we can remember. While there are plenty of other outlets providing statistical data and insight into our local market, 5280 seems to be top of the list as far as buzz goes.
This year’s article by Luc Hatlestad is well done as usual. Rather than pore over piles of statistical data, he’s given us a combination of the “Elite Eight” Denver neighborhoods that saw the highest average sale price increases in 2008 and five myths that are quite often applied to Denver Real Estate that just aren’t true. Of course the online version of the article has to hold something back and in this case it’s the actual “Elite Eight” and their rates of appreciation. While we suggest you either subscribe or purchase the issue yourself, we figured we’d throw you a bone and summarize the Elite Eight and their respective appreciation rates for 2008 here on FlatGrassblog.com. As you’ll see, Northwest Denver continues to be in the mix with two of the eight spots.
The Elite Eight:
Baker: Average Sold Price = $255,000; Up 8% from 2007 to 2008.
Berkeley East: Average Sold Price = $314,000; Up 7% from 2007 to 2008
Cherry Creek: Average Sold Price = $1,161,000; Up 11% from 2007 to 2008
East Highland: Average Sold Price = $296,000; Up 7% from 2007 to 2008
Platt Park South: Average Sold Price = $402,000; Up 4% from 2007 to 2008
Rosedale: Average Sold Price = $360,000; Up 17% from 2007 to 2008
University Hills: Average Sold Price = $303,000; Up 6% from 2007 to 2008
Wash Park East: Average Sold Price = $705,000; Up 8% from 2007 to 2008
So there you have it folks. Denver isn’t all doom and gloom and if you happen to be living in any of the neighborhoods listed above you’re moving up despite the biggest economic and housing slump in recent memory. It is impressive to see Denver moving in a positive direction despite everything going on in the state, country, and global markets.
No. 1 — May 22nd, 2009 at 12:20 pm
[...] For those of you out there who haven’t already seen the video below, The Today Show put together a segment on their markets to watch as leaders out of the housing slump and back into positive ground regarding prices moving forward. While the video is a good plug for our local market I think this is most important from a psychological perspective. Just as the media was relentless as things turned sour for real estate across the country, they will start to bandwagon on the cities they see as moving into a recovery phase. This could be the first of many positive stories about the Denver Real Estate market that are getting outside our local coverage. [...]