Some real estate transactions pay off in surprising ways. In May I received a phone call from Carol who said that her Mother, Juanita, had just passed away at 102 years old. She had left her daughters, Carol, Donna and Jude multiple properties in the Denver Metro area.
Searching for a Central Denver trendline within the past two years, we decided to research three 1960’s center hallway buildings sold by Calibrate Real Estate. Why?
Central Denver appears to be headed for another record year of apartment sales prices. To many observers it might seem that nearly everything is selling for $200,000+ per door; but are they really?
Denver’s apartment market has been on the rise for nearly a decade. That run has some investors worried that we are now “late in the cycle”, anticipating that an inevitable downturn is on the horizon. However, there are several reasons to believe that the market will continue to push ahead.
Encouraging news was published in late July within the Apartment Association of Metro Denver’s 2nd Quarter Vacancy & Rent Report.
Brace yourselves – – new property tax assessments will be mailed the first week of May. Every two years the Denver County Assessor’s Office sends out their new valuation notices to property owners. Once again, we expect assessments will be higher than two years ago for most apartment owners in Central Denver.
Calibrate Real Estate published it’s 2018Q4 report provides insight on the direction of the Central Denver apartment sales market and recaps transactions that have occurred since our last newsletter was published.
After six years of steady growth, in 2018 the Central Denver apartment market flattened out. Nearly 1,000 units were sold in 34 transactions, and the average price per unit was $182,938, a slight decrease from 2017’s average of $185,316.
Calibrate Real Estate published it’s 2018Q3 report provides insight on the direction of the Central Denver apartment sales market and recaps transactions that have occurred since our last newsletter was published.
As market influences, our clients often ask us, “where is the market heading?” That question stems from a concern that the next recession will occur soon. The Denver apartment market’s expansion phase has lasted for 7 years resulting in amazing appreciation for multifamily owners.