DENVER — One corner of residential real estate is missing out on Denver’s pandemic boom.
While single-family homes around the region have been selling at record prices, the number of condominiums available in downtown Denver keeps climbing.
“There are houses averaging over $600,000 that can’t stay on the market for more than a few days, and then downtown, you have condos that aren’t selling or having to drop their prices,” said Lori Greenly, founder of Denver-High Rise Living. Her firm specializes in downtown condos.
“We have many things at play, like the election, COVID, and the rough homeless issue. It’s the perfect storm, and here we sit.”
In Denver’s 80202 ZIP code, which encompasses most of downtown, there were 193 active listings at the end of August, up nearly 50 percent from August 2019 and 112 percent from August 2018, according to data from REColorado.