Waqar Zahid

Denver Market Trend Research Denver Denver's enviable quality of life makes the city one of the most desirable places to live and work in the United States. With panoramic views of the majestic Rocky Mountains, more than 300 days of sunshine each year, and truly remarkable amenities, Denver consistently tops anyone's list of great places to live. Residents of Denver are among the healthiest people in the country. The city boasts the nation's largest park system, and residents enjoy the best skiing in the world each winter plus a wealth of recreation year-round, including hiking, mountain biking, rafting, fishing, camping, and more. Denver is a true sportsman's city by any measure with professional teams from every major sport, including Major League Baseball, the National Football League, the National Hockey League, the National Basketball Association, plus lacrosse and soccer teams. If this sounds enticing, you're visiting the best website in the world to start searching for Denver real estate. Culture is in abundance. The Denver Performing Arts Complex and the Denver Art Museum are only two of the city's many outstanding attractions. Culture is supported by the Scientific and Cultural Facilities District that funds these venues and more. Other key attractions include the nearby Red Rocks Amphitheater, plus the Denver Museum of Nature and Science just minutes from downtown. On the educational front, Colorado boasts the third highest percentage of college graduates in the country. Denver 80202 Map : Denver Market Trend Research Residential Real Estate: Metro Denver existing-home sales grew in July to the highest point since July 2004. Sales were also 32.2 percent above July 2012 sales and were 9.7 percent higher than June sales. The inventory of unsold homes declined by 7.4 percent over-the-year, but was 9.1 percent higher than the inventory in June, reaching the highest point since September 2012. Median home prices increased for both single-family homes and condominiums, but price increases were more modest when compared to the large spike in sales. The median sales price of a single-family home ($286,500) was 10.6 percent higher than one-year prior. The median price of a condominium ($161,000) was 4.5 percent above the median price in July 2012. Metro area data from the National Association of Realtors (NAR) showed the national median price of a single-family home ($203,500) rose 15.4 percent between the first and second quarters. The second quarter price was also 12.2 percent above the level in the previous year. Median prices in the Boulder and Denver-Aurora MSAs also showed improvement. The Boulder MSA median price in the second quarter ($431,200) was 11.2 percent higher than the first quarter and 11.1 percent above the second quarter of 2012. This was the first time ever that the Boulder MSA median price rose above $400,000. The median price in the Denver-Aurora MSA ($286,500) rose 9.7 percent over-the-quarter and 9.9 percent compared with previous year. The over-the-year price increase in the Boulder MSA was the 43rd highest of the 171 MSAs and the Denver-Aurora MSA showed the 51st largest increase. Residential building permits in Metro Denver increased during July, rising to 1,129 permits during the month. Permits were 14.3 percent higher than in June, and 54 percent higher than in July 2012. Single-family attached home permits increased the most on a monthly basis by 46.8 percent, followed by single-family detached home permits, which rose 15.1 percent. Multifamily permits decreased 4.1 percent. Compared with July 2012, multifamily permits increased the most of the three categories and were 134.2 percent higher. Single-family attached permits also rose significantly by 124.2 percent. Single-family detached permits were up 25.2 percent. Year-todate totals show permits through July were nearly one-third higher than the same period in 2012. Commercial Real Estate: The second quarter MarketView from CBRE suggests the Denver office market continued to grow as a result of local economic progress and improving lease rates and vacancy rates. Competition between tenants for high profile space was competitive and should help push down vacancy rates. Key industries including healthcare, energy, and financial services should driver growth in the coming quarters. While speculative construction has been focused in the downtown Denver, momentum over new development and investment opportunities is focused around decreased vacancy rates and demand for new space. CBRE's second quarter MarketView report for the industrial market had an optimistic outlook for Metro Denver. According to the data, Denver's industrial market improved during the quarter with a declining vacancy rate and significant demand. As the vacancy rate dropped to near historical levels, tenants are beginning to consider build-to-suit options, build-to-own developments, or leasing less space. The market currently has nearly 600,000 square feet of Denver Market Trend Research speculative space under construction that should be delivered within the year, indicating that developers and investors view Denver as a strong market. Denver's retail market had an uptick in activity during the second quarter, according to the CBRE MarketView. National retailers showed strong interest in the Denver market, due to the area's well-educated labor force, business-friendly environment, and diverse employment base. While retailers face challenges like online shopping, they are adapting by downsizing stores to become more efficient but still maintain the traditional brick-and-mortar presence. With continued gains in consumer spending, per-capita income increases, and continued redevelopment progress, the Denver retail market should strengthen in the coming months. Denver 80202 Zip Code Detailed Profile Sr No- Description 2011 Populations 2000 populations Males Females Houses and condos Renter-occupied apartments Cost of living index Population density Number 9,133 4,364 5,487 3,646 7,599 4,-(US average 10) 8,156 people per square mile 9 Median real estate property taxes paid for housing units with mortgages in 2011 Median real estate property taxes paid for housing units with no mortgage in 2011 Unemployed Estimated median house/condo value in 2011 Estimated median household income in 2011 Percentage of family households Housing units in zip code 80202 with a mortgage $2,153 (0.6%) 10 - $2,312 (0.5%) 5.4% $382,900 $67,672 16.6% 1,545 Denver Market Trend Research- Houses without a mortgage Median monthly owner costs for units with a mortgage Median monthly owner costs for units without a mortgage Median number of rooms in houses and condos Median number of rooms in apartments Detached houses Townhouses or other attached units In 3-to-4-unit structures In 5-or-more-unit structures Median gross rent in 2011 Median price asked for vacant forsale houses and condos in 2011 384 $2,206 $- $1,235,432 (392% of state mean) $264,786 (117% of state mean) $179,997 (94% of state mean) $354,008 (209% of state mean) $1,216 $655,258. Denver Market Trend Research Summary Denver, 80202 : The median sales price for homes in ZIP code 80202 in Denver from Jun 13 to Aug 13 was $387,000 based on 108 sales. Compared to the same period one year ago, the median sales price increased 1.8%, or $7,000, and the number of sales decreased 14.3%. Average price per square foot for homes in 80202 was $367, an increase of 6.1% compared to the same period last year. There are currently 182 resale and new homes in ZIP code 80202 on Trulia, including 5 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 80202 was $612,624 for the week ending Sep 10, which represents a decrease of 1.4%, or $8,697, compared to the prior week. Popular ZIP codes in Denver include 80206 and 80220, with average listing prices of $739,354 and $518,743. Median Sales Price in 80202: Location Median sales 2013 Denver 80202 $ 380,000 Denver $ 260,000 Sales 2012 Sales 2008 $ 380,000 $ 240,000 $ 368,000 $ 165,000 Below graph shows the Median sales price comparison between Denver and 80202 Denver Market Trend Research Below graph shows number of sales comparison between Denver and 80202 Average Listing Price in 80202: Location 10th Sep 2013 Denver 80202 $ 612,624 Denver $ 433,201 3rd Sep 2013 27th Aug 2013 20th Aug 2013 $ 621,321 $ 437,988 $ 631,085 $ 439,271 $ 630,546 $ 436,631 Below is the graph shows Average Listing price comparison Denver Market Trend Research Below is the graph shows number of listing comparison Average Price Per Sqft for Homes in 80202 Location Median sales 2013 Denver 80202 $ 367 Denver $ 240 Sales 2012 Sales 2008 $ 346 $ 212 $ 393 $ 176 Below is the graph shows Average price per Sqft homes Denver Market Trend Research Recent home sales in Denver, CO (zip code 80202): Sr. No- Address Sales Price Date 1133 14TH ST- BROADWAY 21ST 2001 LINCOLN ST- LARIMER ST- BLAKE ST R-TH ST-TH ST 24L 1449 WYNKOOP ST- LINCOLN ST-TH ST 3909 $1,850,000 $52,000 $542,727 $280,000 $794,500 $684,500 $235,000 $502,500 $505,000 $850,000 - (CONDO- (CONDO- (CONDO- (CONDO- (CONDO- (CONDO- (CONDO- (CONDO- (CONDO- (CONDO) Denver Market Trend Research Bedrooms in houses/apartments in 80202(Owner Occupied): Sr No. Bed Rooms in houses(owner) 1 No Bed Room 2 1 Bed Room 3 2 Bed Room 4 3 Bed Room 5 4 Bed Room 6 5+ Bed Room Number- Bedrooms in houses/apartments in- No Bed Room 1 Bed Room 2 Bed Room 3 Bed Room 4 Bed Room 5 Bed Room Denver Market Trend Research Bedrooms in houses/apartments in 80202(Renter Occupied): Sr No. Bed Rooms in houses(Occupied) 1 No Bed Room 2 1 Bed Room 3 2 Bed Room 4 3 Bed Room 5 4 Bed Room 6 5+ Bed Room Number- Bed Rooms in houses (Occupied- Bed Rooms in houses (Occupied) - No Bed Room 1 Bed Room 2 Bed Room 3 Bed Room 4 Bed Room 5+ Bed Room Denver Market Trend Research Estimate of home value of owner-occupied houses/condos in 2011 in zip code 80202: Sr No- Estimate of home value of owner-occupied Less than $10,000 $100,000 to $124,999 $125,000 to $149,999 $150,000 to $174,999 $175,000 to $199,999 $200,000 to $249,999 $250,000 to $299,999 $300,000 to $399,999 $400,000 to $499,999 $500,000 to $749,999 $750,000 to $999,999 $1,000,000 or more Number- Estimate of home value of owner-occupied 2011 Less than $10,000 $100,000 to $124,999 $125,000 to $149,999 $150,000 to $174,999 $175,000 to $199,999 $200,000 to $249,999 $250,000 to $299,999 $300,000 to $399,999 $400,000 to $499,999 $500,000 to $749,999 Denver Market Trend Research Rent paid by renters in 2011 in zip code 80202: Sr No. Estimate of home value of Renter-occupied Less than $100 1 $100 to $149 2 $150 to $199 3 $200 to $249 4 $250 to $299 5 $300 to $349 6 $350 to $399 7 $400 to $449 8 $450 to $499 9 $500 to $549 10 $550 to $599 11 $600 to $649 12 $650 to $699 13 $700 to $749 14 $750 to $799 15 $800 to $899 16 $900 to $999 17 $1,000 to $1,249 18 $1,250 to $1,499 19 $1,500 to $1,999 20 $2,000 or more 21 Number- Denver Market Trend Research Denver Real Estate Market Data: Denver Market Trend Research Jobs trends in Denver: Denver’s business environment has a strong record of competitiveness, venture-capital funding and entrepreneurial activity. The area’s heavy government presence has drawn a strong aerospace sector, while its high elevation and one-bounce satellite uplink drives an impressive broadcasting and telecommunications sector. Other critical business areas include aviation, bioscience, energy, financial services, healthcare and IT. Trade, transportation and utilities is the top employment sector for the Denver area’s 1.4 million workers. Other top sectors include professional/business services and government. Professional/business services, education/health services, construction and other services have each reported recent strong percentage gains in job growth, while information employment has declined. Employment growth in the region is projected to exceed that of the state and nation. Several sectors in the area should perform well, including education and health services, professional and business services, and natural resources, mining, and construction. Denver Market Trend Research Job growth in Metro Denver accelerated during 2012, and the year finished with stronger-than-expected employment expansion, adding 34,500 jobs. Overall, employment increased 2.5 percent from 2011 to 2012 (compared to a forecasted rate of 1.1 percent). Silverstein forecasts job growth in 2013 to be 2 percent. Metro Denver Economy: The Metro Denver residential real estate market will continue to outperform the nation with decreasing foreclosures, increasing home prices, and strong new construction activity. The region continues to be a highly attractive place to live and do business, as evidenced by existing company expansions and the attraction of several major new corporate players. There are several positive signs for the retail industry. Retail sales in Metro Denver increased nearly 8 percent through the third quarter of 2012 compared to last year's numbers, pointing to higher demand for retail services and the potential for expansion in the retail market. Additionally, work on Fast racks and the Union Station redevelopment is spurring construction and retail activity along the rail lines. Easier transportation access will bring more consumers to shops, more jobs, and increased spending potential. Several infrastructure projects in the Metro Denver area are helping to ensure steady construction employment. The Colorado Department of Transportation is increasing spending by $100 million in 2013 to add to the base of $400 million that was spent on projects in 2011. The Regional Transportation District (RTD) is expected to spend nearly $2 billion in 2012 and 2013 on FasTracks projects which will connect the Metro Denver region with 140 miles of new light rail, commuter rail, and bus rapid transit, with four rail lines opening in 2016. As the region continues to make these important investments, economic progress will continue in Metro Denver at a steady pace. Metro Denver Labor and Employment: After Metro Denver's employment rose by 1 percent between May and June, employment decreased slightly between June and July by one-half of a percent. The decline was the first monthly drop since January. Four of the 11 super sectors reported lower employment on a monthly basis: manufacturing (-0.1 percent), education and health services (-0.7 percent), transportation, warehousing, and utilities (-1.2 percent), and government (-5.3 percent). Natural resources and construction reported the largest percent increase between June and July of 1.4 percent or 1,200 jobs. The largest super sector by employment, professional and business services, added 2,100 jobs with a 0.8 percent increase. Colorado employment also declined on a monthly basis (-0.1 percent), but grew by 2.7 percent over-the-year. Nationally, employment declined more than in both Metro Denver and Colorado between June and July (-0.8 percent) and increased less compared with July 2012 (1.7 percent). Metro Denver's unemployment rate fell 0.6 percentage points to 6.6 percent between June and July after rising 0.8 percentage points between May and June. Each of the seven counties also reported monthly declines, the largest occurring in the City and County of Broomfield and Adams County, with both rates decreasing by 0.8 percentage points. Boulder County had the second highest decline of 0.7 percentage points. Compared with July 2012, the unemployment rate was 1.4 percentage points lower in Metro Denver. The rate also fell in each of the seven counties. Adams County's rate of 7.6 percent was 1.7 percentage points below last year's rate, the largest decline of the seven counties. The smallest decrease was in Boulder County (-1.1 percentage points). Colorado's unemployment rate was also lower compared to June (-0.7 percentage points) and July 2012 (-1.4 percentage points), falling to 6.9 percent. The national rate was higher on a monthly basis at 7.7 percent, but was 0.9 percentage points below July 2012. Denver Market Trend Research First-time unemployment insurance claims in Metro Denver were 0.8 percent lower in July over-the-year. Through the first seven months of 2013, average claims declined 0.2 percent. Claims throughout Colorado were down even more by 3.1 percent in July compared with one year prior. The year-to-date average showed claims had increased through July by 2.5 percent over the same period in 2012. Employment Statics for all Potential Employees for Denver, 80202: 2010 Employment Statistics for Potential Employees (Age 16+) Denver, CO 80202 Colorado United States Employment Potential 7,371 3,877,424 237,450,726 Civilian Total 4,246 2,597,791 143,186,664 Employed Civilian Males 2,712 36.79% 1,413,040 36.44% 76,490,548 32.21% Employed Civilian Females 1,534 20.81% 1,184,751 30.56% 66,696,116 28.09% Armed Forces Male 0 0.00% 26,400 0.68% 1,041,883 0.44% Armed Forces Female 0 0.00% 5,031 0.13% 194,250 0.08% Unemployed Males 387 5.25% 117,923 3.04% 8,607,960 3.63% Unemployed Females 115 1.56% 78,511 2.02% 5,967,224 2.51% Not in the Labor Force Male 1,189 16.13% 425,730 10.98% 32,071,333 13.51% Not in the Labor Force Female 1,434 19.45% 626,038 16.15% 46,381,412 19.5 Denver Market Trend Research Denver Market Trend Research Denver Unemployment trends: The BLS reported that the unemployment rate for Denver fell 0.1 percentage points in July 2013 to 7.2%. For the same month, the metro unemployment rate was 0.3 percentage points lower than the Colorado rate. The unemployment rate in Denver peaked in October 2010 at 9.2% and is now 2.4 percentage points lower Unemployment Rate July 2013 Month/Month Year/Year National 7.4% -0.2 -0.8 Colorado 7.1% +0.1 -1.0 Denver 7.2% -0.1 -1.2 Unemployment Rate in Denver County/city, CO The number of people unemployed in Denver peaked in October 2010 at 128,328. There are now 30,025 fewer people unemployed in the metropolitan area. From a recent trough of 96,921 in May 2013, the number of unemployed has now grown by 1,382. Unemployed Persons July 2013 Month/Month Year/Year Denver Market Trend Research Denver 98,303 -585 -14,690 Number of Unemployed Persons: Population Trends in Denver: Metro Denver has a population of nearly 2.9 million people, and has a growth rate that has consistently outpaced the national rate every decade since the 1930s. The region grew steadily in the past 10 years. And by 2020, Metro Denver's population is anticipated to increase to more than 3.2 million. To proactively plan for the region's growth, the Denver Regional Council of Governments (DRCOG) createdMetro Vision 2035, a long-range strategy that addresses land use planning, development, and transportation while preserving Metro Denver's unparalleled quality of life. Metro Vision concentrates development in a defined 750-square-mile urban growth boundary and identifies guidelines for nearly 70 high density, mixed use developments in the region, many around transit centers. A large portion of Metro Denver's population growth is due to in-migration of highly educated workers from other states. Net migration represented one-third of the region's total population change between 2002 and 2012. Metro Denver is estimated to have net-migration of 15,400 residents in 2012. The top states for in-migration are California, Texas, Arizona, and Florida. Metro Denver also ranks first among large U.S. metros for total population gain in the 25- to 34-year age group between 2008 and 2010. Northern Colorado's 2012 population is 572,967, with roughly 54 percent of the population located in Larimer County and 46 percent located in Weld County. Between 2002 and 2012, Northern Colorado average annual population growth (2.1 percent) was significantly faster than growth reported statewide (1.4). Denver Market Trend Research Resident Population in Denver County/city Population Growth and Statics: 2010 Population Growth and Population Statistics Denver, CO 80202 Colorado United States Total Population 7,584 5,070,226 308,455,134 Square Miles 1.20 103,717.53 N/A Population Density 6,309.00 48.90 87.20 Population Change Since 1990 124.98% 53.87% 24.02% Population Change Since 2000 56.73% 17.88% 9.61% Forecasted Population Change by 2014 32.15% 8.96% 4.52% Population Male 4,403 58.06% 2,570,739 50.70% 152,625,766 49.48% Population Female 3,181 41.94% 2,499,487 49.30% 155,829,368 50.52% Median Age 47.00 34.20 35.60 Denver Market Trend Research Population by age for Denver, CO 80202: Denver Market Trend Research References: 1- http://www.trulia.com/CO/Denver/80202/ 2- http://www.trulia.com/real_estate/Denver-Colorado/market-trends/ 3- http://www.city-data.com/zips/80202.html 4- http://www.metrodenver.org 5- http://www.clrsearch.com/Denver-Demographics/CO/80202/Housing-Statistics-Occupancy-andYear-Built 6- http://research.stlouisfed.org/fred2/series/CODENV5POP?cid=27596