Metro Denver’s housing market has exited the pandemic-induced fever that dominated last year and the first half of this year — a surge in activity and prices unlike any the region has ever seen or will likely see for years to come. And within this hottest of hot markets, neighborhoods in Aurora, eastern Denver and central Jefferson County, ran hotter than others.
Record low inventories of homes on the market at the start of the year drove bidding wars and a huge surge in home prices as buyers tried to get ahead of rising interest rates. And while the market cooled as those higher mortgage rates dampened demand late spring and summer, the first half of 2022 will go down as one for the record books.
“Wages and salaries aren’t keeping pace with housing costs. It is realistically unsustainable. Something has to give at some point. Our housing market has changed, the question is how much will it continue to change,” said Steve Danyliw, a member of the Market Trends Committee at the Denver Metro Association of Realtors and a Littleton-based Realtor.
Danyliw regularly publishes home sales numbers on the 90 ZIPs that cover the 11-county area that DMAR defines as metro Denver. In any given period, a given neighborhood’s popularity will fluctuate depending on what buyers are looking for and where they are most active. But as the market starts to come down from its unsustainable run, it is worth knowing what areas have already started to brake hard and which are still accelerating, as warning signs flash slower speeds ahead.
— Full story via Aldo Svaldi, The Denver Post
These are the hottest ZIP codes in metro Denver’s housing market right now
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