Location, location, location...close to public transportation in Denver may be the new Holy Grail when it comes to higher home prices. That's right: homes close to public transportation are soaring in value!
A study conducted by the National Association of Realtors and the American Public Transportation Association discovered that during the last recession, residential properties near public transportation with plenty of high-volume service saw their values increase 42 percent, on average.
“When homes are located near public transportation, it is the equivalent of creating housing as desirable as beach front property,” said APTA President and CEO Michael Melaniphy.
Of course, part of the appeal is that access to jobs is as much as 5 times higher when public transportation effectively borders a neighborhood. Additionally, households taking advantage of public transportation are typically able to save hundreds of dollars monthly in transport costs (gas, parking, etc.)
This is something very important to remember if you're considering placing your Denver Front Range or Summit County home for sale. If you're close to public transportation, your asking price could be higher than you've estimated, especially if the property is effectively marketed with this benefit.
Accordingly, this is a valuable point for Colorado home buyers to keep in mind as you search for a home and view properties: a potential house will hold its' value much better and be solidified against recession if public transportation is close.
As a Denver real estate agent, it's my job to help both buyers and sellers stay abreast of interesting, profitable, and important new trends like this.
If you're considering buying or selling a Denver-area house, please contact me for a free analysis at 303-475-7249 or email me
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