Englewood Real Estate Market Prices, Trends and Forecast 2023

Englewood, Colorado, was initially established as a mining town in the mid-1800s when gold was discovered along the South Platte River. Since its official incorporation in 1903, Englewood has become a thriving hotspot for real estate investments. Located just five miles south of downtown Denver, Englewood connects the Denver metro area with its neighboring south suburbs, such as Cherry Hills, Parker, and Lone Tree. This strategic central location makes it a bustling hub for commuters and visitors alike.

Although the gold that brought this community historic fame is gone, Englewood's allure remains. The city offers an array of cultural amenities, welcoming neighborhoods, and a wide range of recreational activities. Residents and visitors can explore the shopping and nightlife in the historic South Broadway or bask in the many parks, golf courses, and bike paths that dot the area. Englewood also showcases an appreciation for the arts through its various sculptures, underscoring its commitment to creativity and community engagement. Whether you're seeking small-town charm close to urban conveniences or a place to call home with various amenities, Englewood welcomes all with open arms and ensures an unforgettable experience.

The Englewood real estate market is dynamic and ever-evolving. If you plan to buy or sell real estate here, it’s essential to do your research. Examining local market trends and conditions provides invaluable insights into pricing, demand, and competition. This knowledge helps in making informed decisions, ensuring optimal financial outcomes, and understanding the best timing and strategies for successful real estate transactions.

Read on to learn valuable information about the Englewood real estate market, including prices, trends, and the forecast for the rest of 2023.

As a part of Arapahoe County, located just south of the Denver Metropolitan area, Englewood features a thriving economy and plentiful job opportunities that provide a desirable quality of life. Its vibrant and unique ambiance entices people from all walks of life, and its proximity to major metropolitan amenities, top-notch educational systems, and excellent real estate options make it the perfect place to call home. 

 

Home values in Englewood have remained relatively stable over the last year, with an increase of 5% year over year. That said, homes have also spent longer on the market, increasing 128%, though it remains low at only 22 days. Much like the remainder of the area, the housing market should expect to increase steadily in the coming years. Home values and sale prices will continue to grow thanks to the strong economy and abundance of amenities that bring people to Englewood. At the same time, homes remain on the market for a short period, making it favorable for investors.

 

It’s no secret that interest rates have experienced increases this year, and analysts say hikes could be a possibility for the remainder of the year. Interest rate increases, combined with higher home prices, have been a significant factor influencing hesitation for many buyers this year. The good news is that experts predict interest rates will lower and level off in 2024 as the Federal Reserve reaches its inflation target rate of 2%, providing relief for first-time buyers. 

Recent data shows that Arapahoe County is experiencing a slight lull, dominated by rising sales prices, longer days spent on the market, and a decrease in new and sold listings. In July 2023, the average sales price for single-family homes stood at $734,639, a year-over-year increase of 1.2%. The number of days homes spent on the market drastically increased from July 2022, now topping 31 days. New and sold listings are also lower than last year, at 4,080 and 3,405, respectively.

Townhomes and condominiums in the county saw similar trends, with the number of days until sale rising from nine to 23. New and sold listings also saw a decrease, with sold listings dropping by 23.4%. Average sales prices saw a slight dip, coming in at $387,068.

It’s important to note that housing market conditions vary in different neighborhoods and areas. Monitoring local trends and seeking advice from real estate experts is an excellent way to gain comprehensive knowledge and understanding of the Arapahoe County housing market and its subsidiaries.

In short, yes. Englewood’s strategic location ensures proximity to Denver's bustling downtown while maintaining a more relaxed, suburban ambiance. The city boasts an array of amenities, from recreational parks to cultural attractions. The consistent growth in the Denver metro area has led to appreciating property values in Englewood, suggesting potential for robust returns. Coupled with a diverse range of property types, from historic homes to modern condominiums, Englewood presents a plethora of investment opportunities. Its location, growth potential, and community amenities make Englewood a promising choice for real estate ventures.

Englewood boasts a rich tapestry of neighborhoods, each offering its distinct charm and character. Nestled within the Denver metropolitan area, Englewood's residential areas combine the serenity of suburban living with the convenience of urban amenities. From the picturesque tree-lined streets of Cherry Hills to the bustling local businesses in South Broadway, there's a perfect spot for every resident. The city's commitment to green spaces, as evident in parks like Belleview and Centennial, makes it a haven for outdoor enthusiasts. Englewood's diverse neighborhoods foster a tight-knit community spirit, and its strategic location offers seamless access to greater Denver's opportunities.

If you are looking for homes for sale in Englewood, need a home valuation, would like more insight into the local market, or have questions about how to sell your house, contact real estate specialist Jennifer Markus today. Her invaluable marketing prowess, over two decades of experience, dedication to client satisfaction, and widely successful negotiation skills have made Jennifer a top expert in the industry.