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Why It's So Hard to Find a Home in Denver for Under $300,000

This two-bedroom, one-bath home at 556 South Patton Court was priced in June at $199,999. Click to see the complete listing.
This two-bedroom, one-bath home at 556 South Patton Court was priced in June at $199,999. Click to see the complete listing. Homesnap
Although it's still possible to find a single family, detached home in the Denver area for under $250,000, such properties are in extremely short supply. According to a new report, there were only 150 active listings for abodes priced at less than $300,000 in metro Denver last month, as compared to nearly 900 going for $1 million or more.

The information is highlighted in the June market-trends report from the Denver Metro Association of Realtors, our source for a recent report about how much Denver home prices have increased over the past four years.

The treasure trove of data contained within that document (accessible below) includes a breakdown of all single-family, detached homes and condominiums sold in eight different price ranges, as well as the number of active listings in each category. What's revealed along the way is the comparative dearth of lower-priced houses — the kind traditionally targeted by first-time buyers — and the surplus of places that only those earning big, bigger and the biggest bucks will be able to consider.

Note that just four detached, single-family homes were sold for under $100,000 in Denver during May, with only eight listings at that price point active during the same period. Houses tagged at between $100,000 and $199,999 were nearly as rare: twelve sold and there were 23 active listings. And while 185 homes were sold for between $200,000 and $299,999 in May, that number is lower than the sales totals in every higher grouping, including million-dollar-plus homes, of which 215 were purchased last month.

The situation is similar when it comes to condos, but not quite as extreme. Just four condos went for less than $100,000 in May, and only seven listings were active in that bracket. But in the $100,000 to $199,999 and $200,000 to $299,999 divisions, 144 and 528 condos were sold, respectively.  As a result, many people who were able to buy reasonably priced detached, single-family homes in previous generations are now in a position where they can either purchase a condo (if they can find one) or continuing to rent.

And we all know how expensive renting in Denver can be.

Continue reading to see facts and figures about detached, single-family homes and condos sold and listed in Denver last month, illustrated with photos of sub-$300,000 properties from the Homesnap real estate site, as well as a link to the DMAR report.

click to enlarge This two-bedroom, one-bath home at 3137 West Custer Place was priced in June at $250,000. Click to see the complete listing. - HOMESNAP
This two-bedroom, one-bath home at 3137 West Custer Place was priced in June at $250,000. Click to see the complete listing.
SINGLE FAMILY HOMES

$0 to $99,999


Sold in May 2018: 4
Active listings in May 2018: 8
Sold in April 2018: 3
Sold year to date: 18

$100,00 to $199,999

Sold in May 2018: 12
Active listings in May 2018: 23
Sold in April 2018: 12
Sold year to date: 65

$200,000 to $299,999

Sold in May 2018: 185
Active listings in May 2018: 119
Sold in April 2018: 204
Sold year to date: 984

click to enlarge This three-bedroom, one-bath home at 2510 West Amherst Avenue was listed in June at $265,000. Click to see the complete listing. - HOMESNAP
This three-bedroom, one-bath home at 2510 West Amherst Avenue was listed in June at $265,000. Click to see the complete listing.
$300,000 to $399,999

Sold in May 2018: 1,065
Active listings in May 2018: 652
Sold in April 2018: 945
Sold year to date: 4,368

$400,000 to $499,999

Sold in May 2018: 995
Active listings in May 2018: 1,008
Sold in April 2018: 901
Sold year to date: 3,886

$500,000 to $749,999

Sold in May 2018: 1,036
Active listings in May 2018: 1,577
Sold in April 2018: 978
Sold year to date: 3,912

click to enlarge This two-bedroom, one-bath home at 957 South Perry Street was priced in June at $284,950. Click to see the complete listing. - HOMESNAP
This two-bedroom, one-bath home at 957 South Perry Street was priced in June at $284,950. Click to see the complete listing.
$750,000 to $999,999

Sold in May 2018: 295
Active listings in May 2018: 609
Sold in April 2018: 245
Sold year to date: 964

$1,000,000 and over

Sold in May 2018: 215
Active listings in May 2018: 894
Sold in April 2018: 193
Sold year to date: 761
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Michael Roberts has written for Westword since October 1990, serving stints as music editor and media columnist. He currently covers everything from breaking news and politics to sports and stories that defy categorization.
Contact: Michael Roberts