Real Estate & Relocation ^ Colorado

Denver Colorado Real Estate Statistics & Trends

Comments from the Broker
Just over a year ago, the popular commentary in Denver was 2004 would not be a very good year.  Perhaps 2004 was not a great year in Denver real estate, but it wasn't bad either.  Since the 2001 job loss debacle, sales have remained steady in Denver and prices have gradually risen.  Taking a look at the simple comparisons shown below, it is obvious that the number of listings (properties placed on the market by Realtors) has remained stable over the past three years, with sales increasing by over 6,000 units in 2004 over 2003, and gross average prices just under $266,000.

Builders did well locally also, a subject I will discuss further next month.

2002 - Total Units Sold: 47,919	Average Price: $244,450
2003 - Total Units Sold: 47,966	Average Price: $253,699
2004 - Total Units Sold: 54,012	Average Price: $265,799

While it is true interest rates have contributed greatly to the local market's well being, a slow but steady job recovery has stabilized the local economy.  Nationally, the adjusted gross sales will be just under 7,000,000 units, over 900,000 units more than 2003.

The media predictions locally for 2005 are: 1) the market will do better, and/or 2) the market will do worse.  Short of a national or worldwide economic crises, the market will most likely roll along just as it has in the past 3 years, with a moderate increase in value of 4-5%, and slightly less units available than last year.

Larry D. McGee, CRS, CRB
President, Principle Broker
The Berkshire Group, Realtors
A Denver Colorado Real Estate Company

Raytheon increases employment in Aurora, Colorado

Business at Ratheon is good, especially since obtaining a Billion dollar contract in 2002 to build ground systems for the nation's new weather satellite system.

Now, the aerospace/defense company plans to build a 150,000 sq. ft. office building at the Aurora campus, adding 150 new employees.  Many employees will be coming from Waltham, Massachusetts.

We welcome the relocating employees and would like to invite you to visit Denver's most comprehensive website for real estate, Denver Real Estate  & Relocation.  There you can read about the various Denver metro neighborhoods, investigate Denver home prices, driving times to Raytheon locations and school information.

Denver Colorado Population

Denver's population is growing as per the U.S. Census 2000 (2003 estimates)

516,000 population

5.6% population increase since 2000

24.6% population increase since 1990

6.9% population under 5 in 2000

8.6% 65 or older in 2000

11% foreign born in 2000 (national rate is 11.1%)

15.5% older than 5 who spoke a language other than english at home in 2000 (national rate is 17.9%)

Colorado Companies Awarded Federal Contracts

The U.S. Department of Defense has awarded contracts to Lockheed Martin Commercial Space Systems Co. for work related to the Titan program. The contract is expected to continue through until September 2008 at a cost of approximately $7.5 million dollars.

TEAM Integrated Engineering Inc. in Evergreen along with three other companies share in a $850 million contract to provide services to support the Air Force Center for Environmental Excellence's mission.  This work shall continue until November 2010.

PCL Construction Services Inc. was awarded the construction contract of the Chapel Center at Buckley Air Force Base.  Work at this location should be completed by November 2005, costing 5.3 million dollars.

Persons relocating to the Denver Metro area for these positions should visit The Berkshire Group, REALTORS site for additional information about the area.  The Berkshire Group specializes in assisting persons moving to the Denver metro area.