Denver shows economic improvement
For many Americans, choosing the right metro to move to largely comes down to economics. People strive to live in places that successfully balance affordability, prosperity and cultural amenities. Professionals looking to move to a positive job market can check out real estate in Denver, as the metro’s economy has steadily improved throughout the year.
According to a recent Colorado Department of Labor and Employment report, about 2,000 payroll jobs were added in the state in May 2012. The gains were in the private sector, and largely comprised of positions in the financial and leisure and hospitality industries.
Consequently, more jobs are on their way to the greater Denver area. Mrs. Fields Famous Brands is moving the organization’s headquarters from Salt Lake City to Broomfield, reports the Broomfield Enterprise. This cookie retailer has over 390 U.S. locations, and its new headquarters are less than 20 miles north of Denver and can be quickly reached by traveling on Interstate 25.
The organization has leased a 9,600 square foot office located at 8001 Arista Place on the sixth floor, states the source.
"The Broomfield area supports a business environment that is rich in franchising, brand development and fast-casual and (quick-service restaurant) support infrastructure," Mrs. Fields CEO Tim Casey said in a statement, according to the news source. "Many casual/quick-service companies were launched from and are based in the area, making it an ideal environment for idea sharing."
The introduction of new business in the greater Denver area may bring more career opportunities to residents, and positively impact the local economy.
In addition to the improvements in the job market, the real estate industry is getting stronger. According to ALTOSResearch, the median price for a single family home in Denver was $253,950 as of June 10, 2012. This is up from approximately $250,000 on May 1, 2012. Meanwhile, the median price paid per square foot for these properties was $130.
The length of time a Denver property remains on the market before being sold is decreasing. As of June 10, 2012, the average property sold after an average of 138 days on the market.
"The resale market is running a close second as tightening inventory is quickly shifting leverage from buyers to sellers, which will help to further stabilize prices in Denver. It’s hard not to be optimistic about the future after what the industry has just come through," said John Covert, director of Metrostudy’s Colorado division, in a press release.