Spring is in the air meaning that the busy buying and selling season is heating up, especially in the Denver metro area. But, this year looks to bring similar real estate conditions where demand for new homes will be high, but supply will remain low for interested buyers in the downtown Denver and surrounding metro areas.
New Construction and Opportunities in the Metro Area
Recent statistics published in The Denver Post show that the residential building sector is trying to make up for the lack of potential houses on the market for interested buyers by significantly increasing new build projects within the Denver metro area. Numbers from McGraw Hill Construction show that 2013 construction starts were valued at $6.9 billion, which is an 11 percent increase from 2012 and a 146 percent increase from 2009. Multifamily and single-family housing are leading factors of the recovery and boom in Denver’s building industry.
Whether it’s building completely new neighborhoods or adding new developments into existing popular neighborhoods, dust is moving and new homes are popping up across the Denver metro area. Some of the most notable new construction projects currently underway include:
- North of the city, Anthem Highlands in Broomfield is adding new homes on a daily basis. With recent accolades for Best Master Planned Community from the National Association of Home Builders, Anthem Highlands is a highly sought-after place to live with high-end amenities for families and seniors, as well as mountain views and easy access to Boulder and Denver.
- West of the city, Wheat Ridge is jumping on the real estate band wagon that was ignited from the development of the West Highland area and is now traveling westward along 38th Avenue to Sheridan and Wadsworth. According to a recent Denver Post article, the Wheat Ridge area has 100 homes valued at approximately $40.6 million either under construction or breaking ground this spring. One project underway is the Perrins Row development at 38th and Depew, which features 26 new row homes. Also, plans are underway a few blocks northwest of Perrins Row for the development of 26 energy-efficient homes to break ground in April.
- South of the city, the Terrain Neighborhood in Castle Rock has been voted the 2013 Master-Planned Community of the Year by the Home Builder’s Association of Metro Denver. Mixing outdoor adventure and a small town community feel, Terrain features seven model home options from three award-winning builders.
- East of the city, Green and Bluff Lake Neighborhoods in Stapleton display some of the newest construction offerings in this highly popular residential development that appeals to families, singles and senior citizens alike. Offering a mix of urban amenities and outdoor open space recreation options, Stapleton is an award-winning neighborhood within Denver’s city limits.
New construction in Denver is booming as we kick off the busiest season in real estate across the city. If you’re ready to tap into the new construction boom that is sweeping all areas of the metro Denver area, call the real estate experts at New Era Group. They can help you find the best new home in the neighborhood of your choice, as well as help you sell your existing home if you are looking to move up into a brand new neighborhood.