Highland Development Company
July 13, 2020
2020 Denver Real-Estate Look Ahead
As we begin the third quarter of 2020, we are met with some great news for the Denver housing market. According to the Denver Business Journal, sales of attached and detached homes are on the upswing among COVID-19 concerns and setbacks, “Pending sales of both attached and detached homes ‘skyrocketed’ in May, reaching 6,809 by the end of the month. That’s a 114.9% month-to-month increase, and an 11.9% jump from May 2019.” Recent reports from the DBJ say, “Buyers closed on 5,581 Denver-area homes (including both attached and detached) in June, with another 7,676 under contract at the end of the month”. June also saw an increase in pending listings, providing encouraging numbers for the July market as homes generally close 30 days following contract-signing.
HDC is building in great neighborhoods in and around Denver, like Berkley Shores near Ole Town Arvada, West Line Village in Lakewood, and The Nightingale in Uptown. We are excited to be working on a new, extremely walkable community in the Villa Park neighborhood, directly across from the Lakewood Gulch, Commons at King. HDC is committed to creating uncommon communities where people want to live, near transit, entertainment, and access to the natural beauty Colorado offers. These homes maintain a sense of community even while maintaining social distancing requirements. For instance, it is rare to walk through West Line Village on a weekend morning without seeing residents taking part in a group workout from their individual garages! “Community is at the core of everything we do. Our team is constantly working to find creative solutions to our city’s housing challenges. We aim to pinpoint the places where people want to live and innovate attainable communities for now and for the future.” Said HDC President, Paul Malone.
In addition to the real estate market being on the rebound, Facebook has Denver on its shortlist for new tech hubs along with other global tech firms. “With the changes going on in everyone’s’ lives daily, we can see that time moves extremely fast. Now is not the time to wait, it is the time to make a decision on where to live and take the steps to get there” said Jill Samuels, realtor at The Highland Team and Compass. HDC is excited to be part of the expanding Denver market by bringing new, uncommon communities to life.