A new beginning is amongst us as we enter into 2020. We, as a nation, will surely see many changes. We’ll see many challenges and successes. We’ll see new innovative ideas and designs, discoveries and advancements. Researchers will have breakthroughs; artists will have epiphanies. We’ll see changes in the streets, roads, businesses, and neighborhoods. Denver, a decade ago, looked much different than it does now. And we can only predict and expect potential growth. Some experts predict many house markets to crash (such as CNBC); however, Denver stays safe and dependable. The Denver market looks to strike the perfect balance between growth and safety.
How can we expect potential growth? We can’t see the future, but we can evaluate trends, rates, and future development plans to predict future growth. How does one predict and follow real estate markets? All experts and professionals have the specific formulas they stick to, but for the most part, they monitor and watch the same things.
To see the future of an emerging market, you have to look at specific reports and data. Some of those reports are (but not limited to) job creation, population growth, building permits proposed government planning, and more.
Job Growth in Denver
As shown in our previous article, we posted multiple sources confirming the future business and companies moving to the Denver area. More and more tech companies are falling in love with our beautiful mountains, downtown urban lifestyle, and attainability development. Amazon announced once again to add 400 new tech jobs with an office located downtown Denver in 2020; however, this is just one company. Many startups from Silicon Valley and the Bay Area are relocating to Denver.
Population Growth in Denver
The 2010s saw exponential growth in Denver. Before this decade, it stood amidst other similar midwestern cities, not too big, crowded, or coveted. Until a spotlight shone right down on our beautiful urban city. We have space; we have culture; we have something different. Denver’s growth in the 10’s was tremendous. From Elizabeth Garner, Colorado’s state demographer, we know each year around 70,000-80,000 people moved to Colorado this past decade. She believes in 2020, our population will reach 5.8 million.
As years continue to roll and neighborhoods continue to be developed and filled, Denver is on its way to being the central Midwestern metropolitan of the United States.
Neighborhood Growth in Denver
With more Millennials hitting a certain level of stability and careers, more are looking to purchase homes, especially in and around the Denver area. This survey by the Denver Business Journal shows specific neighborhoods booming with residential construction. Since popular neighborhoods are filling up (Lodo, Rino, and Capital Hill), development has just moved to neighboring areas. While more jobs come in, more people come in, which invites the growth and development of new rising Denver neighborhoods.
As this year continues more attainable homes will be in the upcoming neighborhoods. West Colfax, Sunnyside, and DIA will be the next booming neighborhoods; the homes and lots in these areas are estimated to increase in market value.
Denver Real Estate Investment Opportunities
As this new decade begins, investors are looking for the right, strategic areas to earn the highest and best returns.
If you are looking for the right project, look no further than our Sunnyside project. With the upcoming developments in the area (including ours), this growing district prices will continue to rise; as of right now, they are much lower than surrounding areas.