Denver is notorious for having some pretty amazing neighborhoods and communities. Highlands, RiNo, and Berkeley are a handful of neighborhoods that have gotten so expensive, but rightfully so. Younger buyers that I work with face the hurdle of wanting to aspire to home ownership, but they also want the walkability to restaurants and bars. They want community.
After working tirelessly with clients in search of the “perfect home,” I have discovered that the most underrated neighborhood to date is Arvada. Full disclosure… all neighborhoods around the Denver metro city have experienced their fair share of appreciation. Homes aren’t trading for the same price in which they were five years ago, let alone 12 months ago.
Why Arvada? Consider these four highlights:
1) Olde Town Arvada
Historic Olde Town Arvada is the heart of this city in which it offers the public a balanced mix of historic charm and modern-day amenities. A wide variety of quaint shops, easy walking around an old area, excellent restaurants, breweries and bars and toss in an Army surplus store for grins. Enjoyable any time of the year and just off the beaten path, you can spend an hour or a day just wandering around this little gem of an area.
Here are a few recommendations if you find yourself in Olde Town Arvada:
Hate sitting in traffic? The G Line is part of RTD’s 2004 voter-approved FasTracks plan to expand transit across the Denver metro region. The G Line is an 11.2-mile electric commuter rail transit line that will connect Denver Union Station to Wheat Ridge, passing through northwest Denver, Adams County, and Arvada. The train is still in the testing protocol, but city officials believe that it should be accessible to the public sometime this year, 2018. Once the G-Line is open, I suspect property values will go up as well for the city of Arvada.
3) It’s Still Somewhat Affordable
According to Trulia, who did a study back in August of 2017 on neighborhoods median sales prices.
– Arvada Median Sales Price: $385,000
– Highlands Median Sales Price: $415,000
– Berkeley Median Sales Price: $570,000
From Olde Town Arvada to Berkely, it’s about a 10-15 minute drive and a $185,000 difference in sales price. Just give that some thought. I suspect in the next few years that Arvada’s Median Sales price will go up substantially.
4) Arvada is a Community Driven Neighborhood
Arvada boasts 90 parks within city limits and festivals and farmers’ markets nearly every weekend. I think what makes this community special is the blend of younger families that have just moved in, mixed with the folks that have lived in Arvada for 40-50 years.
Clients that live in Arvada, during the holiday season, noted that they have had several neighbors stop by their house dropping off holiday treats! Who doesn’t love a great community vibe?
Denver is a heavily millennial-based city. Younger working professionals that are just starting their careers off are loving the accessibility of all that Downtown Denver has to offer, but most of them are going to get married, have kids, get a dog, etc. These younger working professionals are going to funnel into the suburbs of Denver in the upcoming years. Arvada is going to be a huge target for a lot of these millennials because of the reasons above. This area has it all! Buyers should keep an eye open as Arvada proves to be the next hot neighborhood.
If you’re looking to make a move in 2018 or if you have any questions regarding the real estate market in Denver, please don’t hesitate to reach out to me.
Phone: (720) 939-4789