LoDo, Denver, Colorado Real Estate and Relocation Information

LoDo is Denver’s hot new 23-square block Lower Downtown area, full of lofts and glitzy condos overlooking the Platte River Valley with view of the mountains to the west, or close to Coors Field, home of the Colorado Rockies, or simply in the middle of an exciting urban redevelopment.

In the early1980s a handful of visionary citizens concerned with the deterioration of Denver’s lower downtown area began to dream of a revitalized, park-filled new residential area, close to area attractions and within walking distance to the 16th Street Mall, downtown, the Auraria campus of Metro State College, the University of Colorado at Denver, and Community College of Denver.

The LoDo District was formed in 1988 which began to set in place design standards for rehabilitating the area’s buildings, including imposition of building height so that any new buildings would not block the mountain view to the west. Denver’s old Union Station is scheduled for redevelopment in the near future.

LoDo is a is a thriving mixed-use neighborhood full of art galleries, restaurants, brewpubs, jazz clubs, and specialty retail stores. Offices, condos and lofts top the shops and restaurants below. One of Denver’s premier book stores, the Tattered Cover, has a location here.

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LoDo Real Estate

LoDo real estate consists of lofts, townhomes and condos running from $125,000 for a very small, unrenovated condo to over $2 million for a luxurious, 6,400+ square foot 3 story townhouse, with 4 bedrooms, 5 baths, mountain and city views and a 3-car attached garage. Average prices in this area range from $400,000 to $500,000.

July 2008 Market Statistics

In metro Denver closed sales in July were 5,123 compared with 4,980 in July 2007, a 2.9% gain. The average selling price for the period was $262,224 compared to an average in July 2007 of $289,294, a percentage drop of 9.4. The median sale price for single-family homes was $229,200 compared with $255,000 in July 2007, for a drop of 10.1%. 969 condos and townhomes sold in July 2008, compared with 1,081 for the same period in 2007, a drop of 10.4%. Median prices for condos in July 2008 were $149,000 compared with $158,000 in July 2008, a drop of 5.7%. For single family houses, condos and townhomes the average number of days a house was on the market in July 2008 was 98, and in July 2007 was 95. The list to sale ratio was 97% in 2008 versus 98% in 2007. 25,673 houses are currently on the market and interest rates are still low. It’s a great time to buy in the Denver real estate market, but if you’re a seller you may want to wait till conditions improve.

Check out the current Market Conditions Report for further analysis.

LoDo, Denver, Colorado Zip Codes

• 80202

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