4 Colorado Cities Ranked Best in US & the Impact on Real Estate
One of the best-kept secrets is officially out. Colorado is by far one of the most enjoyable places to live. In fact, Colorado cities easily snagged four out of the top five slots on U.S. News & World Report’s 150 Best Places to Live in the U.S.
While this isn’t exactly new news to Coloradans, the state’s popularity has had a major impact in many areas, with real estate prices topping that list. Colorado homes are in high demand, inventory is at an all-time low, and the average home price is higher than it’s ever been. All signs point to the trend continuing well into 2021, which means one thing for prospective buyers – buy now.
Top Four Colorado Cities
Boulder took first place as the best city in the entire nation. Denver easily grabbed the second slot, with Colorado Springs and Fort Collins ranking fourth and fifth, respectively. The only city that stopped Colorado from sweeping all five slots was Austin, Texas, which took number three.
Countless recreational activities and stunning views are claims to fame throughout most of the state, and each city on the list has nuances that provide its own special charm.
- Boulder: Known for being a mecca of wellness, Boulder abounds with everything from spas to yoga and alternative health studios. This gorgeous city tends to attract people with passion, imagination, and a penchant for enjoying life to the fullest.
- Denver: Hailed as the best city of all time by many residents, Denver is an ideal spot for working, retiring, or a little of both. Many tech companies are either moving to or considering a move to Denver, bringing a bastion of jobs to the already thriving city.
- Colorado Springs: Colorado Springs boasts a low unemployment rate, low cost of living, and dozens of entertainment and recreational activities. It’s also gentler and quieter than more populated cities, yet offers easy access to some of Colorado’s most scenic spots.
- Fort Collins: Home to Colorado State University, Fort Collins is about one hour north of Denver. As such, it has largely become the go-to city for those seeking more affordable real estate and a smaller-town feel.
Impact on Colorado Real Estate
Despite the slowdown in other industries due to the pandemic, Colorado’s real estate activity has actually increased. Denver’s average home price hit a record high of over $625,000 in October, with home listings hitting an all-time low. Highly desirable areas across the rest of the state are experiencing similar trends.
Timing is a huge factor for those interested in calling Colorado their home. The longer you wait, the more prices are predicted to increase. Interest rates are still low, making now the prime time to buy, whether it’s in one of the top four cities or one of their nearby enclaves.
Buy in West Line Village Today
Located just five stops from downtown Denver on the W Line, Lakewood is home to the luxury townhome community of West Line Village. This area, too, has seen a spike in buyers and is likewise expecting a surge in prices. Schedule an appointment or request more info today.
