On this edition of Perpectives, we entertain a visit from Sotheby’s Realtor Adam Moore, who discusses his local market in Denver, Colorado. Adam got started with a small boutique firm in northern Denver but turned to the Sotheby’s network to offer his clients better value.
What makes Denver real estate unique is that it seemed to be impervious to the bubble that gripped much of the United States. “Since 1976, our market has only dropped twice,” Adam says. “Those two times being one in the late eighties in the oil crisis, and then in 2008, 2009, during the financial crisis, so two pretty big economic impacts were required to really see a dip in our market.” Last year, Denver saw 11.5% growth overall, with more than 14% growth in the city proper.
With huge growth in Fortune 500 employers (including Arrow Electronics, Dish Network, Ball Aerospace, Western Union and Newmont Mining, to name a few) and other large well-known chains like Molson Coors, Sports Authority, UPS, Wells Fargo and Comcast, it’s no surprise Denver has maintained a thriving market for well-heeled homeowners.
But business news aside, Adam says buyers gravitate to the Denver market for the lifestyle it affords them. “We’re an hour away from world class skiing, but we have a very temperate climate,” he explains. The outdoorsy types have a lot to be excited about — with 300+ days of sunshine and 60-degree days in February. World-class hiking can be found in Golden, on the periphery of the city, or 35 minutes away in Boulder. The connecting bike trails make it so residents can bike from north to south without ever leaving a trail. If you want “blue skies and sunshine,” look no further! With all these happy people, “you’ve got a lot of creativity coming into the city, so great restaurants, great night life, great architecture,” Adam explains.
Adam’s favorite areas for Denver luxury properties include:
• The Lower Highlands – one of the first settlements in Denver, dating back to the 1850’s, that sits on a hill with beautiful views of the skyline. Here you can find Modern Victorian remodels next to new Contemporary custom homes with all the bells and whistles.
• The Central Business District – particularly in a high rise condo community called Spire, which is one of the best-selling high rises in the entire nation, in fact. Here you can find spectacular views of the mountains and the skyline.
Listen to the podcast to hear Adam Moore’s in-depth answers to the following questions:
1. What does one-million dollars buy in the Denver market?
2. How many million dollar properties are there in Denver, and how many sell in a year?
3. What does one million dollars buy in Denver?
4. What’s your impression of Louisville, as a realtor from another city?
5. For people who are thinking of relocating to Denver, what’s your two-minute pitch?