Lower HIghland's (LoHi) Visionairies

LoHi contiues to grow with new and exciting resturaunts and shops, as well as in new residential developments.  The LoHi real estate market is HOT and nnay of these multi-unit developments are selling out prior to breaking ground!!  Businesses are attracted to LoHi and so are new residents!  It is hard to say what makes a neighborhood take off in popularity.......what makes it the hot spot.  It usually starts with an individual or individuals having the faith and vision to invest in a particular area.  Here is a great article providing some history on the vision of LoHi........and the visionaries behind some of LoHi besr spots!

http://www.bizjournals.com/denver/print-edition/2011/06/03/high-times-for-lohi-now.html?ana=fbk 

Sunnyside Music Fest 10th Anniversary

The Sunnyside Music Fest was this past weekend in Chaffee Park in Sunnyside.  Celebrating their 10th Anniversary, this year's event, once again, did not disappoint.  The weather was beautiful and the crowd was large.  Chaffee park was filled with bikes, strollers, dogs, and food and craft venders, as young and old came out to this community event to hangout with friends and neighbors and listen to some great local music.  What makes Sunnyside Music Fest so unique is that it is Denver's ONLY community-owned, grass roots neighborhood event.  The FREE event is held each year the Saturday after Labor Day. Proceeds for this year's event went to the local non-profit Bienvenidos Food Bank.  Check out the link below for more information on the Sunnyside Music Fest, the history and how to get involved next year! 

http://www.sunnysidemusicfest.org/about/our-organization/                      

Quarterly Market Snap Shot W. Highland, Berkeley and Sunnyside January - March 2012

"Seller's Market" is the term to define all three of these Northwest Denver neighborhoods.  Low inventory throughout the Denver Metro area, including the Highlands and its neighboring areas, has buyers and agents frustrated in finding properties that meet client's price range and needs.  Properties priced well and in good condition are receiving offers within 24-48 hours of going on the market. Many properties are receiving mulitple offers and offers that are close to, or above, asking price.  Real estate agents are having to craft strategies to get offers accepted and buyers are having to forego consessions or contingencies to make their offers more attractive.  As we approach the high point of the spring and summer selling season it is hoped that sellers currently on the fence recognize this great opportunity and take the plunge to sell.  The low vacancy rates in the rental market and rent prices on the rise, combined with historically low interest rates, have many buyers deciding that now is the time to pursue home ownership.  They see that in many cases, owning a home is more affordable than renting.

If you have considered, or are considered selling your home.....now is the time! 

West Highland

Single Family

# of Units Sold                   32

Median Sales Price           $321,500

Average Sales Price         $436,500

Avergae PSF                      $212

Average DOM                   151

MOI                                   2.6

Condo

# Units Sold                        5

Median Sales Price          $202,000

Average Sales Price        $197,900

Average PSF                    $215
Average DOM                   892
MOI                                    5.3

Berkeley

Single Family

# of Units Sold                   32

Median Sales Price           $275,500

Average Sales Price         $227,225

Avergae PSF                      $182.5

Average DOM                   45.5

MOI                                   2.4

Condo

# Units Sold                        1

Median Sales Price          $57,000

Average Sales Price        $57,000

Average PSF                    $92

Average DOM                   183

MOI                                    2

Sunnyside

Single Family
# of Units Sold                   47
Median Sales Price           $210,000

Average Sales Price         $246,650

Avergae PSF                      $173.5

Average DOM                   81.5
MOI                                   1.8

Condo
# Units Sold                        0
Median Sales Price             0
Average Sales Price           0
Average PSF                       0
Average DOM                     0
MOI                                    2

October 2011 Monthly Market Snapshot - Highland Real Estate

Single Family Home

# of Sales  12
Median Sales Price   $246,000
Average Sales Price   $275,000
Average PSF    $225
Average DOM  151
Average % List to Sold Price  93%
Months of Inventory   2.3

New Construction/New Builds
# of Sales  2
Median Sales Price  $528,500
Average Sales Price  $528,500
Average PSF  $262
Average DOM 72
Average % List to Sold Price  101.5%
Months of Inventory  7.5

Condos
# of Sales  4
Median Sales Price  $252,500
Average Sales Price  $263,125
Average PSF  $242
Average DOM  66
Average % List to Sold Price  95.5%
Months of Inventory  2.75

Real Estate Market Snapshot - September 2011 - Highland and Its Neighbors




 September 2011 continued to be active in the Highland real estate market for single family homes.   Highland has not experienced the typical slow down usually experienced in late summer/early fall when school starts up again and people have other things on their mind than buying a house.  Historically low interest rates have played a role in the uptick of activity as buyer's want to take advantage of  the interest rates to get the most bang for their buck in financing.  Highland is also experiencing very low inventory of single family homes.  Serious buyers know they must be on their toes and when a good property comes on the market....they must bounce quickly....not much time to think about it!  It is definatley a seller's market and with the low inventory available it is a great time to put your home on the market!

Highland
# of Sales   10
Median Sales Price  $318,250
Average Sales Price  $258,350
Average PSF  $220
Average DOM  143

Months of Inventory 4.7                                                                 

West Highland, Sunnyside and Berkeley are experiencing much of the same.....the number of sales has remained fairly consistant through July, August and now September.  Again, historically low interest rates and low inventory play a key role in market activity continuing past the season summer sales.

West Highland
# of Sales  16
Median Sales Price  $367,500
Average Sales Price $374,500
Average PSF  $207
Average DOM  101
Months of Inventory  3.5

Sunnyside
# of Sales  10
Median Sales Price  $257,500
Average Sales Price  $258, 500
Average PSF $171
Average DOM  171
Months of Inventory  4.3

Berkeley

# of Sales  15                                                                                   
Median Sales Price  $309,500
Average Sales Price  $325,750
Average PSF  $198
Average DOM  108
Months of Inventory 2.6

2011 Highland Farmer's Market Comes to a Close

The close to the 2011 season of  the Highland Farmer's Market was this past weekend and although all good things must come to an end, the end of the market leaves a large void in my Saturday morning ritual.  The market, held each Saturday morning, June - mid-October, on Boulder Street in front of Lola and Vita, is not only a place for fresh fruits, vegetables, hand made soaps, organic dog treats and farm fresh eggs, but also a place to connect with the community, socialize with friends and meet new neighbors.   This was the third year of the Highland Farmer's Market and with live music, a jumpy castle, face painting, a variety of food trucks and the addition of bloody marys and mimosas, the market is a great place for the entire family to spend a sunny Saturday morning.  Although it was sad to say goodbye...I look forward to market season 2012!