Trails, proximity to outdoor recreation, quality of life
Covid-19’s impact on Denver’s housing market is deepening and becoming more clear. I chronicled some of these changes a recent blog post — the move from city center to the suburbs, the willingness of buyers to live farther, even much farther from downtown and the general migration happening to Denver from around the country.
In this post, I highlight another, related trend I’m noticing — the pull for Denver families to live in places with easy access to outdoor activities and recreation, homes with larger lots, and more approachable prices.
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Denver’s epic trailway the High Line Canal has all of these features in spades, which the area it courses through has become a magnet for buyers. Of course, the 71-mile canal, and accompanying trail system, crosses many parts of Denver and covers many types of neighborhoods and regions, but, in general, I’ve seen demand explode in its proximity.
Built in 1883, the man-made canal was designed to shunt water from the South Platte River to settlers and farmers in southeast Denver. It starts southwest of Denver in Waterton Canyon and ends just northeast of Aurora. The trail, lined with cottonwoods and other trees, features 23 parks and open spaces along its course, from Green Valley Ranch Golf Club to Expo Park to Redstone Park.
High Line Canal Course.
The High Line Canal provides easy access to recreation for families, which has become in high demand with Covid-19.
As we all spend more time at home, and have come to evaluate where we live differently, families are beginning to prioritize places where they can quickly take their kids on a bike ride after work, or go for a walk in the morning, or exercise in an area abundant with nature.
In addition to the over 70-miles of trails along the canal, numerous trails merge with it at various points, creating a dynamic, multidimensional trail system. For example, it intersects with the wonderful Cherry Creek Trail near the Cherry Creek Reservoir.
Homes in the $400,000 to $600,000 price range are on fire right now in the Denver metro area. For example, single-family homes in the $400,000 to $500,000 price range were the most in demand in the area in September 2020 with an average months of inventory of 0.42, according to Denver Association of Realtors data. That is extremely low. A housing market is considered balanced between supply and demand when there’s six months of inventory.
The median days on market for homes in these price points are also scraping the bottom of the barrel. In September, the median days on market for homes with sold prices of between $300,000 and $499,999 was just 5 days. These homes can’t really move any faster.
The High Line Canal region has many homes in this range. I highlight some of the hottest neighborhoods and areas below.
Hot High Line Canal Areas
Some of the popular High Line Canal neighborhoods include Southwood Park, Broadway Estates and the area around where Orchard Road and Holly Avenue intersect.
The map below depicts the broader area that all of these neighborhoods fit into.
Denver, of course, has many hidden gems, like this area, where buyers can find relatively affordable homes and a great quality of life. Real out for a free conversation about my inside knowledge.