The Westminster suburn of Denver has home values that are around $320,000. In Westminster this will buy you a nice house that is around 2200 square feet. The Westminster MLS shows prices have increased by 11% from last year which is amazing. Home prices have increased around Denver but not by as much as Westminster. Prices are expected to continuing climing next year and we expect that homes will be even more expensive with increases of more than 4%. It’s amazing how things have changed in only a few years. It used to be in 2011 that you could buy a nice home in Westminster for less than $200,000.
Check out the chart below which details the steep rise in home prices in Westminster over the past six years. What a climb! Prices are becoming increasingly out of reach for first time buyers and if things continue, new homes buyers will only be able to afford a condo or town house and they won’t be able to buy a single family home.
Prices in nearby Denver communities such as Superior are even higher, with current home prices hovering around $520,000 according to the Denver MLS. We have been talking to some of the local real estate agents who service clients in the area and they told me that when they meet with buyers for the first time they are often shocked at current home prices. It’s taken a lot of people by suprise.
Buyers who are hoping for lower prices might want to consider working with a real estate agent in Twin Lakes, Northglenn or Federal Heights where you can still buy a house for less than $300,000. For now anyway. Prices are expected to increase in these communities as well.
Those buyers who are looking for something in the luxury homes category will find plenty of options including multiple luxury estates priced at more than $2,000,000. One such property that is currently for sale is 2421 Ranch Reserve Rdg in Westminster. The price of this home is $3 million. The property has more than 11,000 finished square feet and is the ultimate in luxury living on the golf course.
There are a number of great real estate agents serving Westminster including The Bartic Group with Keller Williams. Pamela and John Subry with RE/MAX and Team Lassen with Metro Brokers. These are all very experienced real estate agents who can help buyers or sellers and they have members of their team available to work with everyone from a first time buyer to a luxury sellers. With years of experience, excellent marketing, five-star client reviews and a full support staff to ensure that nothing slips through the cracks, any of these Denver based real estate teams would be well suited to handle a clients needs.
Can you believe there are more than 300 licensed real estate agents working with clients in Westminster. Most of these agents only sell a few homes each year and the majority of the sales are completed by a handful of the top agents. In addition, many of the real estate transactions taking place in Westminster are handled by real estate agents who don’t have offices in the city, but are based on in nearby locations such as Denver.