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Condominiums: A Fresh Market Perspective

As we enter the summer of 2022, we’re starting to get questions about how Denver condos are faring compared to detached single family houses. 

Overall, the Denver housing market has experienced significant appreciation over the last couple years. As our homes turned into offices, schools, and gyms seemingly overnight with the onset of the pandemic and the subsequent economic recovery, it shifted the priorities many of us set for the places we call home. More space inside/outside of the home gained importance, and the increased prevalence of remote work led to a significant uptick in people moving from one market to another as interest rates dropped to historic lows. Denver was a net beneficiary of pandemic migration patterns compared to cities like New York.  

Within Denver and nationally, the pandemic led to higher demand for detached single family homes and lower demand for condos.  The average price of condos in the Denver metro area did not rise nearly as significantly as single-family homes did during the pandemic. Now, the average price of condos in Denver at $471,453 is almost 50% less than the average price of detached single family homes at $887,243.

 

March 2020

May 2022

YOY Change

Avg Sale Price: Denver

Detached Single Family

$623,819.00

$887,243.00

42.2%

Avg Sale Price: Denver

Condominium

$414,584.00

$471,453

13.7%

Denver County
Source: REColorado, residential, single family residence & condominium, March 2020 and May 2022.
 

While some of the typical perks of owning a condo (being centrally located, community amenities like a pool and gym, less maintenance) lost a lot of their luster over the last couple years as public health concerns took center stage, those concerns are starting to recede. With single family homes becoming significantly more expensive than condos, condos are starting to look a lot more attractive from an investment perspective, and now could be a fantastic opportunity to purchase a Denver area condo!  To search for Denver condos for sale, contact our award-winning team or click here.

Here are some amazing condos on the market right now. Click the address or pictures for more info!

1750 Wewatta St, Unit 1213

Enjoy a luxurious and maintenance-free lifestyle in one of Denver’s finest condominium buildings located in the heart of the Union Station neighborhood. Expansive windows frame the dynamic cityscape and capture the mountain views from every window. Spectacular in design, meticulous in detail, and stunning in every way. 
 
Presented by Meg Pitkin of The Pitkin Group
 

Listing and Image Credit: Meg Pitkin 

1111 Race St, Unit 14B

Breathtaking downtown and mountain views right over Cheeseman Park! The elevator opens directly into the unit featuring an open floor plan, hickory wood flooring, floor to ceiling windows on three sides, and a balcony patio. A true oasis in the city! This architecturally significant mid-century building offers luxury condominium living with a huge community deck perfect for guests, grilling, yoga class, gardening.
 
Presented by Marilyn Kal-Hagan of the Seitz Kal-Hagan Team
 

Listing and Image Credit: Marilyn Kal-Hagan

2960 Inca St, Unit 415

This iconic 1896 converted LoDo loft with original exposed brick and natural wood beams never goes out of style! Additionally, this unit features fantastic natural light from the west-facing views, extra square footage for office space, a handsomely updated primary bath, and a covered parking spot. A truly special loft in a special building! 
 
Presented by Kim Kouba of New Perspective Team
 

Listing and Image Credit: Kim Kouba

2960 Inca St, Unit 402

Another Watertower loft beauty! Dramatic 20 foot tall ceilings, original 1896 exposed brick, and heavy timbre wood beams. The fantastic location makes it walkable to all that LoDo has to offer! 
 
Presented by Hayley Mork
 

Listing and Image Credit: Hayley Mork

 

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