Filled with boutiques, great restaurants and cafes and close to everything Denver has to offer, Platt Park is definitely a neighborhood on the upswing. Nestled in the south-central part of town between I-25, Broadway, Evans and Downing St., the area has garnered the attention of developers, who’re adding new homes and town homes. The older, historic homes, too—the bungalows and Denver squares, among others—are experiencing a revival. Renovation is helping to transform the neighborhood into a super-livable, 21st-century locale.
Numerous young families are drawn to Platt Park, both for the city amenities it offers and its great home prices. Through the week of September 19, 2012, the average listing price for homes in the area was about $414K, while the average sales price for the June through August 2012 quarter was considerably lower at $372K. While not the most affordable neighborhood in Denver, prices have appreciated over the course of the year. This is great news for new buyers, as prices are likely to continue to rise, making every new home purchased a winning investment.
Is Living in Platt Park Right For You?
Platt Park is close to downtown Denver, making it an attractive locale for commuting professionals. The assortment of historic single-family homes include 1- and 1.5-story bungalows, Denver squares and even some Victorians. Interspersed among these older homes are brand-new residences, resulting in a very diverse neighborhood, architecturally speaking.
Being close to the University of Denver makes the neighborhood an attractive place for young people as well. Hip eateries, fashionable shops and a great assortment of nightlife hotspots have sprung up in response to the demand. This attracts others from around the city, too, especially to Old South Pearl Street. The neighborhood includes Platt Park, a popular green space, plus you’re only a short walk or bike ride from Harvard Gulch and Washington Parks, to the south and north, respectively.
Given that interest rates are at an all-time low—in the 3.5% range—it’s a great time to buy. Whether you’re looking for your first home or are looking to invest, take advantage of the low price of borrowing money while you still can. Denver’s Platt Park makes a great landing spot, too. Although home prices there are 55% higher than the Denver average, the neighborhood offers much, from great schools, shops and restaurants to its close proximity to everything you love about the city.
And with the renovation of historic homes the norm, property values are sure to continue to rise, making Platt Park an excellent spot to invest. When buying you have to choose your neighborhood carefully, for home ownership is much more than a home—it’s a community.