4 Colorado Real Estate Markets to Watch
In 2018, these communities stand a fighting chance of achieving the ideal work-life balance
As we all know Colorado is growing rapidly.
What areas in the state still provide the best value following the rapid appreciation seen over the last five years? What sets these markets apart from others? Why would these markets outperform others within the state?
The top four markets to watch in 2018 are as follows (in no particular order):
This community is in the southwest corner of the state. It is home to a highly educated population and is rapidly growing. To many, it is considered an "affordable" mountain town with easy access to various amenities, including two ski resorts, national forests and more.
According to Fort Lewis College Office of Business and Economic Research Director, Tino Sonora: "What much of our employment is in is tourism, retail and services – medical, educational, government, etc., and these industries have seen growth over the past few years.
Durango is poised to continue growing and become a regional hub for the southwest region of the state.
This community is a value play for mountain property.
This ski town was recently purchased by Aspen/KSI/Alterra. The announcement, indeed, spurred considerable growth in the downtown corridor, with the planning and groundbreaking of several new projects. Compared to other mountain communities, Winter Park is more affordable, and thanks to the ski train, more accessible, too.
Steamboat was also acquired by Aspen/KSI/Alterra and has, as a result, seen a sizable jump in investments. Steamboat is one of the anchors of the new Ikon Pass competing with Vail Resorts' Epic Pass.
Steamboat remains one of the more affordable resorts in the state, and has successfully captured a year-round tourism and many small businesses including Big Agnes and Smartwool got their starts here.
Steamboat is considered a more livable town than many other resort communities, with good schools and ample recreational opportunities, while many location neutral employees relocate to the area.
By Front Range standards, Fort Collins is reasonably priced. The community is one of the few areas with an ample supply of buildable lots and, at the same time, job growth. Fort Collins has gained recognition as a tech hub, and has a pool of highly educated workers.
Furthermore, the area is desirable for the quality-of-life it provides, earning accolades from various sources.
Fort Collins will continue to experience strong growth for some time.
Although each of the markets listed are very different, each provides a value and solid real estate investment opportunity, depending on preferences.