Real Estate & Relocation ^ Colorado

Metro Denver Gains 10,700 Jobs

The Denver Business Journal - 2:45 PM MDT Tuesday

There were 10,700 jobs added in metro Denver during June -- and hiring is expected to continue at a strong pace in the third quarter, according to the monthly economic summary released Tuesday by the Metro Denver Economic Development Corp.

The year-over-year job increase is 2.1 percent.  The leisure and hospitality category had the largest gain from May to June, 3.4 percent, followed by natural resources and construction, 2.5 percent. Government jobs declined 1.9 percent.

In the first six months of 2005, the largest employment gains came in natural resources and construction, 4.3 percent, or 3,800 jobs; professional and business services, 3.4 percent, or 7,000 jobs; and educational and health services, 3.3 percent, or 4,400 jobs.

Statewide, employment rose 1.3 percent, or 28,400 jobs, from May to June.  Colorado's year-over-year employement has risen 2.3 percent and is at its highest levels since 2001.

In June, 16 of 18 economic indicators were positive in metro Denver.

Both Metro Denver and Colorado employemtn growth has outpaced the nation through the first six months of the year, the report said.  The year-to-date unemployment rate of 5.3 percent is below 2004's 6 percent for the same period.

"With the increased hiring tends and the low unemplyment rate, Metro Denver is gaining sigificant economic momentum," said Tom Clark, executive vice president of the Metro Denver EDC, in the report.

The metro Denver report encompasses seven counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson.

Development Research Partners, Inc., headed by Patricia Silverstein, compiled the report.

A Denver Real Estate Company

Mountain States' Economy Rebounding, Study Shows

By The Associated Press

DENVER - The mountain region of Colorado, Wyoming and Utah could end 2005 with its strongest job growth in years as the economy continues to improve, an economist predicted Monday.

Nearly 51,000 jobs have been added regionwide since January, and indications from business leaders and managers are that the recovery will continue, Creighton University economics professor Ernie Goss said.

"Surveys over the past several months and government data indicate that the region is growing jobs at a pace not experienced since before the 2001 recession," Goss said.

The Omaha, Neb. - based university's overall Mountain States Index set a record in July at 72.4, up from 71.0 in June. The July employment index was 71.7, up from 65.0 the previous month.

The Creighton Economist Forecasting Group, directed by Goss, conducts a monthly survey of supply managers in the three states to compile the index, which ranges between 0 and 100. An index greater than 50 indicates an expansionary economy in the next three to six months.

Here is a summary of results for each state:

Colorado - Overall index rose to 72.9 from 72.4 in June. Goss siad the state has added about 22,000 jobs and he expects an additional 26,000 new jobs by December, which would put job growth at 2.2 percent for the year. If the prediction holds, it will be the strongest job growth in the state since 1996, Goss said.

Utah - Overall index was 56.8 down slightly from 57.0 in June.  High-tech companies reported solid growth.  Goss said the state has added about 25,000 jobs this year, and he expects an additional 22,000 to be created by year end, ;utting job growth at 4 percent.  If the prediction holds, it will be the best job growth in the state since 1996, Goss said.

Wyoming - Overall index was 84.4, up from 77.6 in June. About 3,500 jobs have been added this year and Goss expects an additional 2,000 by year end to put job growth at 2.1 percent. That would be the highest job growth since 2001, he said. Originally published August 2, 2005

Denver real estate and relocation

Lockheed Martin & Boeing hiring?

Lockheed Martin and Boeing’s proposed joint rocket venture will relocate about 1,000 well-paying jobs to the Denver area.  The joint rocket-manufacturing venture, United Launch Alliance, already has said it plans to set up headquarters at Lockheed’s

Jefferson County facilities in Waterton Canyon .  A Boeing spokesman said about 1,000 administrative, engineering and support jobs at the company’s Huntington Beach, California Delta rocket facility are earmarked for relocation to Colorado .  The 50-50 venture would serve as the sole supplier of booster rockets used by the military, NaSA and other federal agencies. 

Colorado economic officials are thrilled about the prospect of the Boeing jobs coming here, particularly after recent news that four Denver-area companies had relocated their executive offices to outside the state.

(Source: Rocky Mountain News, 07/14/05)

Berthoud, the garden spot of Colorado

Berthoud has always been known as a great place to raise a family, but now the small town 45 miles north of

Denver

is trying to establish itself as a great place to do business.  With a quaint tree-lined

Main Street

, bright-colored Victorian homes and a collection of parks, the “Garden Spot of Colorado” attracts families wanting to live in the small town of yesteryear.  A new 1,600-acre development has been proposed along Interstate 25 near the Berthoud exit.  Wilson Ranch, as it is known, is a mixed-use project being developed by McWhinney Enterprises that will include as many as 4,000 dwelling units and 5.3 million square feet of commercial, retail and office space.  The project could easily double Berthoud’s population over the next 25 years.  “We want to grow; we need to grow, but we want smart growth that will keep this community alive without losing its character,” states Michelle Jurs, executive director of the Berthoud Chamber of Commerce.  (Source:  The

Denver

Post 07/10/05)

Grant Park

The owners and developers of the JW Marriott Hotel in Cherry Creek have turned their sights to the edge of downtown Denver where they plan to build condominiums aimed at young professionals buying their first homes.  Grant Park which will stand eight stories with 112 units will be located at the southwest corner of Grant Street and East 20^th Avenue in the Uptown neighborhood.  The market-rate units will be priced from about $180,000 to $300,000.  The city requires that at least 10 percent of them be affordable, meaning they will cost less.  Units will range in size from about 850 square feet to 1,100 square feet.  (Source: Rocky Mountain News 07/07/05)

Real Estate Sales Statistics

The Denver Metro Real Estate Sales Statistics:

July 2005

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Metro Denver Prices:

Single Family Average Price: (Detached Dwelling)		July 2005	$318,527
		June 2005	$310,798
		July 2004	$297,088
Condo Average Price: (Attached Dwelling)		July 2005	$184,288
		June2005	$193,588
		July 2004	$178,044
Combined Average Price:		July 2005	$291,498
		June 2005	$284,874
		June 2004	$271,919
Percent of Sales Price Change: from July 2004 to July 2005		Single Family:	+7.22%
		Condo:	+3.51%
		Combined	+7.20%
Total Combined Number of Homes for Sale:		July 2005	26,411
		June 2005	25,817
		July 2004	28,026
Percent of Change in Available Inventory: (July 2004 vs. July 2005)			-5.76%
Number of Combined Homes Sold this month		July 2005	6,203
vs. previous month		June 2005	5,091
vs. same month last year		July 2004	6,229
Average days on Market: (Combined Sales)		July 2005	81.84
		June 2005	83.19
		July 2004A	75.55
Absorption Rate: (number of weeks necessary to sell current combined inventory at current rate of sales)		July 2005	18.45 weeks
		June 2005	21.97 weeks
		July 2004	19.50 weeks
Median Sold Price:Single Family		July 2005	$252,250
		June 2005	$251,500
		July 2004	$244,800
Condo		July 2005	$164,000
		June 2005	$163,307
		July 2004	$157,367

Dragon Boat Races

In a celebration of Asian Culture the Dragon Boats raced all weekend on Sloans Lake.

Denver...A place to do business

Denver is the second most competitive place to do business, ranking behind Seattle and ahead of Portland, Ore., in a new study of 19 metro areas across the U.S.  The report examined three factors: the economy, the environment and equity – or how well wealth and social services are spread out. 

Denver rose to No. 2 from No. 4, scoring highly for its business climate and ability to attract venture capital funding for start-up companies.  The study suggested that cities need to think about how the three distinct “quality-of-life” indicators, the economy, the environment and equity, are linked.  The latter category includes income distribution and housing affordability. (Source: Rocky Mountain News 07/13/05)

Downtown Denver Partnership

Fifty years ago, 80 local business leaders gathered at the Brown Palace Hotel to form a group that would keep downtown

Denver

alive and growing.  Now known as the Downtown Denver partnership, they are working to grow the number of downtown residents and workers, reduce homelessness and increase and diversify downtown shopping options.  The partnership now represents 110,000 downtown employees, including 22 of its own, has 550 business members and will announce a new annual budget of $6.8 million.  Created in 1986 – when downtown office-vacancy rates were soaring – the plan has guided development ever since.  In the immediate future, the partnership plans to open a

Downtown

Denver

Home

Center

to attract new residents, finish a study of retail demand and explore the possibility of installing wireless Internet access throughout the

16^th Street

Mall. The partnership is throwing its weight behind Referendums C and D, which will ask voters in November to reform the Taxpayer’s Bill of Rights.  ( Source: The

Denver

Post – 07/13/05)

Best Places to Live - Denver Colorado

In a Best Places to Live 2005 survey, Louisville, Colorado ranked number 5 and Castle Rock and Parker, Colorado ranked number 1 and 2 respectively in fastest jobs growth.

(Source: OnBoard and Money Magazine, July, 2005)