The Colorado Association of Realtors forecasts that by the end of this May, the average single-family home could hit $1 million in metro Denver.
Reality check: That figure for a freestanding home lurched from $810,0914 in February to $918,850 this March — so seven figures doesn’t seem out of the realm of possibility in the foreseeable future.
Driving the news: Increasing mortgage rates and soaring home prices have, as of the end of March, pushed monthly housing payments in the Denver metro area 21% higher than at the start of 2022, per a new analysis from Zillow.
What they’re saying: “Higher mortgage rates were anticipated this year, but the speed of their rise has been breathtaking,” said Jeff Tucker, Zillow senior economist, in a release.
- What to watch: “There will be a point when the cost of buying a home deters enough buyers to bring price growth back down to Earth, but for now, there is plenty of fuel in the tank as home shopping season kicks into gear.”
For when that day comes, enjoy some housing eye candy with this week’s Hot Homes collection. Just one listing sitting beneath the million-dollar mark, and goes up to the roughly $5 million, showcasing the spectrum of available single-family, standalone homes in the city.
Why we love it: This stylish home base is just a 15 minute drive from downtown, and the party really gets started downstairs, where a wet bar features luxe tilework, designer lighting, a kegerator and a beverage fridge.
- Realtor: Grant Muller — Compass
- Neighborhood: Midtown
- Specs: 4 beds, 4 baths, 3,242 square feet
- Notable features: Big backyard. Upstairs is a loft, two bedrooms with Jack-and-Jill bath, and your primary bedroom — an ensuite with walk-in closet. Kitchen’s ceiling-height backsplash tile, quartz counters.
Why we love it: Built in 1926, this bungalow is set on a quiet street providing deep setbacks and tree lined sidewalks, with smart updates throughout.
- Realtor: Brian Thenhaus — Price & Co. Real Estate
- Neighborhood: South Park Hill
- Specs: 3 beds, 3 baths, 2,539 square feet
- Notable features: Original fireplace, vaulted ceilings. Modernized kitchen includes granite countertops, new tile floors, and stainless-steel appliances including a Dacor six burner range, Bosch dishwasher and Electrolux refrigerator.
Why we love it: Two laundry rooms — one upstairs, one in the basement! If that doesn’t say modern convenience, I don’t know what does! This home is also just one block from Bonnie Brae Ice Cream, and a short jaunt to Gaylord Street shops and restaurants.
- Realtor: The Blank and Bingham Team — The Agency, Denver
- Neighborhood: East Wash Park
- Specs: 5 beds, 4 baths, 3,587 square feet
- Notable features: Brick exterior extends inside with the brick fireplace. Dining space easily sits eight and connects to backyard for indoor-outdoor living and entertainment. Designer light fixtures. Primary suit has private balcony, spa-like bathroom with double-head shower, jetted tub, heated flooring.
Why we love it: Greet your guests with a grand staircase in the entryway, enjoy the lower level in your private movie theater with a state-of-the-art projector and sound system, or invite your friends over to relax on the rooftop patio. No detail has been spared.
- Realtor: Alex Rice — Coldwell Banker Global Luxury Denver
- Neighborhood: Cherry Creek North
- Specs: 3 beds, 4 baths, 5,527 square feet
- Notable features: Three-car garage. Tall ceilings, new hardwood floors, custom lighting. Home office with extensive built-ins. Stone inlaid gas fireplace with the dining room.
Why we love it: This mid-century modern two-level sits on a large lot on a quiet street. A glass cupola skylight beams onto a 270-degree rotating desk and the curved walls guide natural sunlight on your day’s work.
Realtor: Doug Gaeta — Compass
Specs: 4 beds, 5 baths, 6,141 square feet
Notable features: Original Gaggenau gas cooktop. Built-in breakfast nook. Custom Japanese spa bathroom, complete with 70-gallon soaking tub, mother of pearl mosaic-style tile flooring, and copper sink. Floating staircase and catwalk. Stone courtyard. Temperature-controlled wine cellar, Zen garden, radiant heat flooring.
Why we love it: This home was built for entertaining, complete with floor-to-ceiling glass sliders that create an indoor-outdoor effect and functionality to the private courtyard, and a full butler’s pantry.
- Realtor: Joshua Demby — Corcoran Perry & Co.
- Neighborhood: Cherry Creek North
- Specs: 4 beds, 6 baths, 5,902 square feet
- Notable features: Coffee bar, built-in office space and bathroom outfitted in marble in primary bedroom. Nine-foot ceilings, full gym, a 700-bottle wine cellar. An electric car lift in the garage provides space for three cars, and snow melt technology on the driveway, entryway and private courtyard means never having to shovel snow again.