3 Things You Need To Know About Glendale, CO Homes For Sale
The Denver metro area is home to a number of unique communities and small cities on all sides. And out of all the communities, Glendale is one of the most charming enclaves of Denver. These niche suburbs are well-positioned in the heart of Denver and residents are just a stone’s throw away from Cherry Creek, the Denver Tech Center, and numerous other popular attractions. Between the top-rated school district and the various local hot-spots, it’s easy to see why so many families are searching in Glendale, CO for homes for sale.
If you’re considering living in the Denver area, Glendale could be the perfect area for your family. However, there are a few things you need to keep in mind as you start to look for homes for sale in Glendale, CO.
1. Glendale Properties Are A Mixed Bag
The small city of Glendale is not a recent development in the Denver metro area. Glendale has existed for roughly as long as the Mile High City. Glendale’s history dates back all the way to the late 1800s when the area was 4 miles out from Denver (hence the historic Four-Mile Park) and it was mainly populated by dairy farms. A lot has changed in the area since then and that includes the local properties and homes within the community.
The first thing you need to know about real estate in Glendale is the fact there’s a variety of housing options. It’s true that the most recent decades have led to a predominance of large apartment complexes in the area. However, there are still many single-family homes and townhouses in the area. And according to NeighborhoodScout, approximately:
- 35% of Glendale homes have 2 bedrooms and only 4.4.% have 3 bedrooms
- 68.5% of Glendale residences were built between 1970-1999
- 91% of homes in Glendale are in apartment complexes
It’s important to keep these stats in mind as you start to look for in Glendale, CO for homes for sale.
2. Properties Are Affordably Priced
Similar to other highly populated metro areas, home prices can vary dramatically across the entire Denver region. For instance, luxury homes in the Cherry Hills Village are currently being listed at an average price of nearly $2 million while homes in the Highlands neighborhood can reach roughly $600,000 or so. You won’t see those kinds of exorbitant prices in the city of Glendale.
While price estimates can vary by the source, we are currently seeing Glendale homes being listed at an average price of roughly $280,000. That’s a highly affordable price point that likely falls within most families’ real estate budgets!
To make matters even better for homebuyers, the recent pandemic has influenced prices in the Glendale real estate market. Home prices have dropped in recent months and we may see some ripple effects well into 2021. If you’re looking in Glendale, CO, for homes for sale, now could be the perfect time to buy.
3. Your Future Home Could Appreciate Significantly
Everyone knows that properties can appreciate in value over time. And a number of factors influence the annual rate of appreciation, such as location, market conditions, home maintenance/improvements, and more. However, homes in the Glendale area have experienced historic rates of appreciation in recent years.
According to the Zillow Home Value Index, an average home in Glendale was valued at $154,000 in April 2010. And just a decade later, that value climbed to $284,000, which is clearly an impressive 10-year rate of appreciation!
We should note that you can’t count on that same rate of appreciation in the years to come. However, these numbers show that Glendale homes have a massive upside for your future financial strength. And as people continue to flock to Denver, it’s clear that these property values will only continue to increase.