All aboard Amtrak’s California Zephyr for a clickety-clack train ride across the plains from the east. Watch them begin to roll into foothills—pause for an early morning train wash in Denver—then climb the Rockies to the Continental Divide. Through the Moffat Tunnel, and suddenly your “light at the end of the tunnel” is the massive expanse of the ski slopes at Winter Park. As you continue a vacation journey through the spectacular mountains of Colorado—the hot springs at Grand Junction are just around the bend, as well as a glimpse of the skiing, culture, and arts community in Aspen—it’s stunning and world renowned.
Many have visited this great land for skiing and wilderness adventure. If the opportunity arises, it may be time to land yourself in this magnificent state, and not just for a visit. Perhaps the time and trends are right for putting down some roots in Colorado.
With unemployment on the decline, and Denver beating the national average by 0.8%, it’s evident by market indications that Denver is thriving with a vibrant economy, and opportunity is in the refined air. It’s no wonder that commercial rents are now beginning to climb as word gets out that Colorado is “open for business.”
According to the Metro Denver Economic Development Corporation, 2013 was a year of records in areas of housing and commercial real estate. This coincides with records also being set in employment growth and the stock market. The region has also experienced a stable expansion in population growth through most of the recent recession and recovery.
For the period of May through August 2014, the median selling price in the Denver area was $276,000, up $6,000, or 2.2%, from the prior quarter, and the same amount from a year ago. In the past five years, sales prices have risen 45.3% in Denver. Popular neighborhoods in Denver include Capitol Hill, Cherry Creek, Green Valley Ranch, Hampden, Highland, and Stapleton. Although two- and three-bedroom homes saw a modest increase, one- and four-bedroom sale prices rose over 11% in the past year. A snapshot of local mortgage rates shows them still under the national average just above 4%.
Tom Clark, CEO of the Metro DEDC, says the forecast is strong for continuing business expansion in the region throughout 2014.
“Metro Denver will continue to record higher personal income, stronger retail sales, enhanced residential and commercial construction, and broad-based job growth at higher rates than both the nation and state. We plan to capitalize on these strengths when pitching companies considering new jobs and investment in our region,” according to Clark.
So, maybe Colorado is not just a gorgeous state to visit, but can now become part of one’s “bucket list” of great places to reside and thrive.