Denver's real estate market remains competitive, especially when it comes to the city's top neighborhoods. But the suburbs are growing in popularity — and priciness — too.

State of play: We asked local real estate experts for their top places to live in Denver based on schools, crime, walkability and charm.

Here's what they said:

Highlands

The hip and vibrant vibes here draw in a community of young professionals with dozens of restaurants and bars to bounce between. It also has a mix of older homes with character, new modern builds, and the city's densest cluster of amenity-filled rental apartments.

• It's "close to downtown but feels like a real neighborhood," Compass agent Kelly Moye told us.

Washington Park

This picturesque and centrally located area boasts a blend of sought-after modern and historic homes — averaging over $1 million — along with its own mini-downtown, featuring top restaurants, shops and cafes.

• It also houses arguably the city's best park.

Sloan's Lake

Affordable homes are hard to come by here, but this older neighborhood offers ample opportunities, particularly to buy new construction.

• Another major attraction is the titular lake, the largest in the city.

Cherry Creek

This elegant, upscale neighborhood is known for high-end shopping, dining options and a vibrant art scene, plus plenty of luxurious single-family homes, condominiums and townhouses along walkable, tree-lined streets.

• It's an "exceptional destination for those seeking a convenient and sophisticated urban lifestyle," Gerard Langhuoth, broker at Guide Real Estate, told us.

Central Park

The city's newest, large-scale development offers lots of pocket parks and a family-friendly community. Value and space can be found in many single-family homes in the $800,000 to low $1-million range.

• "Proximity to highways, schools, shops and restaurants make Central Park Denver's urban-suburban oasis," Langhuoth said.

Full story

The Denver metro area ranks as the hottest housing market in the country for a second year in a row, according to a recent analysis from U.S. News & World Report.

What the report says: The region "retains a mix of strengths including low unemployment, few mortgage delinquencies, low rental vacancy rates for investors and a positive ratio of building permits to job growth."

By the numbers: The median closing price of single-family homes in the Denver metro area last month was $595,000, up 5% from $565,000 in March 2023, according to the latest data from REcolorado.

• Buyers are snapping up homes faster as inventory increases after years of tight supply. The number of new listings jumped 21% from February 2023 to February 2024.
• There were 4,258 metro-area homes for sale in February compared to 5,020 last month, per REColorado's report.

What's next: For the rest of the year and even beyond, rising property taxes and home insurance could be pushing homeowners into financial distress despite them sitting on low mortgage rates or owning their homes outright, Lauryn Dempsey, a Denver-area real estate agent and broker, told U.S. News & World Report.

Tell a neighbor

As downtown's struggles persist — from high office vacancies and low foot traffic to seemingly never-ending construction — Cherry Creek just 4 miles south is thriving.

The big picture: The affluent area appears to be capitalizing on downtown's lackluster demand, as it puts new tenants into office buildings and attracts more people with fresh restaurants, bars and hotels.

What they're saying: "Cherry Creek has positioned itself as one of the top markets in the U.S.," with 99% of construction leased before it delivers, JLL Capital Markets' senior director Hilary Barnett told the Denver Post.

• "The why is one simple reason and it is safety," Matt Joblon, founding partner and CEO of BMC Investments, explained. "There is no crime here and there is no homelessness."

State of play: The neighborhood's office vacancy hovers around 8.5%, compared to nearly a third of downtown office space that's sitting empty, per the Post. Even its mall is flourishing, unlike many others nationwide.

• Meanwhile, major development projects are in the works, including four office buildings currently under construction and another 16 projects recently announced, according to Cherry Creek Alliance's latest report.
• Among those recently announced is Cherry Creek West, a $1 billion facelift expected to transform 13 acres into a "people-centric neighborhood that embraces the creek."

Zoom in: Some of the latest restaurant and bar additions include Mediterranean restaurant Kini's; Ay Papi, a Latin-inspired, rum-centric cocktail bar; and Rare Bird, a rooftop bar atop the Halcyon hotel.

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