Hot Homes flying off the market: 5 Denver houses starting at $419K
As housing prices have swelled, the possibility for strong returns wooed investors to buy up a record 18.2% of available single-family homes across the country in the third quarter, worth roughly $64 billion, a recent Redfin study found.
Zoom in: Metro Denver's numbers were a relative reflection of national averages, with investors plucking 17% of homes, a jump from their 9% market share in the same quarter last year. The median price investors paid for a Denver home was $508,700, per Redfin.
Troy Miller, executive director of the Investment Community of the Rockies, told the Denver Post, "Activity is very high because institutional buyers are chasing yield and are borrowing at close to nothing." He estimates that between five and seven institutional buyers are currently active in the Mile High City.
Don't miss your chance to buy in with these hot Denver houses on the market now:
Why we love it: The seller of this urban condo in the iconic Prado Building is offering to cover the costs of a full-year of HOA fees upon closing.
Realtor: Jennifer Atkinson — Corcoran Perry & Co.
Neighborhood: Golden Triangle
Specs: 1 bed, 2 baths, 909 square feet
Notable features: New carpet for bedroom will be installed prior move-in. Large bedroom with walk-in closet. In-unit laundry, storage space on the same floor, additional storage in parking garage. Expansive views, security, on-site management and a wonderful dog friendly building.
Why we love it: Downtown home near Confluence Park and close to public transit, Union Station, Ball Arena and Coors Field. The tree-shaded patio overlooks Cherry Creek and the pedestrian path that wiggles alongside the city.
Realtor: Justin Hawkins — Homie Colorado
Neighborhood: Union Station
Specs: 1 bed, 1 bath, 864 square feet
Notable features: Built in 2003. Secure building with covered garage parking space and storage unit. Central air and heating with hardwood floors throughout.
Why we love it: Built in 1913, an upstairs balcony offers western views for stunning sunsets.
Realtor: Sarah Nolan — Compass
Neighborhood: Harvard Gulch
Specs: 4 beds, 3 baths, 2,176 square feet
Notable features: Open living room and dining room with additional family room that has the feel of a sunroom with all of the windows. Mud room, with laundry and pantry just off the kitchen. Large two-car garage. New barn door installed in 2018 between kitchen and family room.
Why we love it: KB Home, among the original builders in the Central Park neighborhood, crafted this ranch-style home with a vaulted flex space that welcomes at-home work with designer touches and heaps of style throughout.
Realtor: Megan Harper and Rachael Miesen — milehimodern
Neighborhood: Central Park
Specs: 4 beds, 4 baths, 5,420 square feet
Notable features: Waterfall island anchors kitchen with custom floating wood shelves. Fireplace with custom mantle, indoor-outdoor connectivity. Primary suite with playful painted accents. Lower level is finished with high ceilings, a bedroom, a full bathroom and wet bar. Private and covered patio. Nest thermostats.
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