According to StorageCafé, a nationwide storage space marketplace, the continuing growing interest in Denver makes it the 10th-most impressive real estate performer in the nation.

To identify the most active real estate markets in the last ten years, StorageCafé looked at new construction in the single-family, multifamily, self-storage, office, retail and industrial sectors in the 50 largest metropolitan areas. The Dallas metropolitan area ranked first in the nation for the most activity in all sectors of real estate combined over the past decade.

Highlights for Denver:

·       To keep up with phenomenal demand, residential construction is booming. Building permits have been issued for roughly 98K single family homes (a 131% increase) and over 100K multifamily units (109% increase) in the last 10 years – that’s, respectively, two times and almost 11k more the equivalent figure for San Francisco.

·       Not only did the pandemic not slow the market, but 2021 saw the highest numbers of permits issued for new single-family homes in the entire decade – almost 13,000. In addition, over 17,000 new apartments got the go-ahead in Denver.

·       Office space swelled by almost 19M square feet. In 2021, over 3M square feet of office space was added to the local inventory.

·       The industrial sector saw the addition of over 56M square feet of new space, with 2021 again being the best year of the decade.

·       Self-storage construction, which is also driven by moving, has itself witnessed an increase in demand that in turn has translated into heightened construction activity. More than 8.7M square feet of new self-storage space entered the Denver market over the last decade.

A combination of talent, particularly in tech, a highly-educated population, and a desirable lifestyle are attracting people and businesses alike to the Denver metro area like never before.

While demand is up and supply is down, becoming a homeowner in Denver is still possible. The first step is getting an experienced pro on your side to guide you through the process. Contact Metrowest today and let’s discuss your options!