University of Denver

If there’s a way to see the good in everything, it’s especially easy to find goodness on both the buy and sell side in Denver.  Today, we’ll discuss why while focusing on the DU (University of Denver), Platt Park, and Wellshire Heights neighborhoods.

First Things First:

The University, Platt Park, and Wellshire Heights communities are south of Denver, minutes from downtown, just off I-25.  For a few years, there was some discomfort experienced by residents and commuters passing through this portion of town due to the T-REX light rail project, but just about everyone agrees that the inconvenience was going toward the greater good of a state-of-the-art public transportation system, the likes of which Denver has sorely been in need of since, well, ever. T-REX construction was completed in 2006, and is considered a success for joining business and commuting epicenters Downtown Denver and the Denver Tech Center and Centennial.

On the plus side for buyers:

• These neighborhoods boast reasonable prices, with an average home price of $250,000, which is also the state-wide average.
• Trends indicate price reductions–prices are down 5-10%
• There are more sellers than buyers

Good for sellers:

• Homes remain on the market for a reasonable length of time–about 90-120 days. Compared with other parts of the country, it’s a livable length of time.
• Most sellers receive multiple offers
• Nearby communities, such as Wash Park and Bonnie Brae are experiencing an upswing in activity and prices

Check in later this year, when we’ll revisit this area, to witness forthcoming trends following the summer season wrap-up. Until then, look for more good news.