Posted by Ryan Penn, Denver Real Estate Consultant:

UPDATE: Click here For the 2010 article 5280 Magazine Real Estate Denver Neighborhoods article.

5280 Magazine just released their annual 2009 Denver Real Estate Report, and based upon the turbulence of the Denver Real Estate Market over the last year this issue has been eagerly anticipated by Realtors and consumers alike.  I really didn’t know what to expect.  Would it be negative? What direction would they take their readers? In the past, 5280 has provided extensive coverage of Denver Neighborhoods that have outperformed other areas, noting neighborhood characteristics and stats and trends that supported  purchasing in those areas (as opposed to other neighborhoods).  Sales and interest in those areas then spiked (e.g., Highland, LoHi, etc).

Instead of taking the opportunity to rag on the existing market and point to statistics that would support not purchasing a home in 2009, they did the exact opposite by highlighting eight neighborhoods where home values have increased.  The first page of the articles says “Your Home is Worth More Than You Think! (especially if you live in certain Denver neighborhoods, where average sale prices are going up).”  Followed by the next page which says “Relax for a moment.  Take a deep breath – because, when it comes to real estate, things aren’t so bad here in sunny Denver.”  This is a way different message than what other local media outlets have delivered regularly on the nightly news.  Kudos 5280 Magazine.

The article does lack the same neighborhood profiles contained in past editions, so, allow me to fill in the blanks.  Following are the 8 Neighborhoods where home values are on the rise.  We are providing more neighborhood information as well as a link so you can search for active listings within that area.

The Elite Eight Neighborhoods – Denver Neighborhoods that saw the highest average sale price increases in 2008.

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Baker Neighborhood

Average Sold Price $255,000 | Change from 2007: +8%

Neighborhood Description: The Baker Neighborhood is a designated Historic District located just to the south of the city and just minutes away from the Golden Triangle and  Downtown Denver. The unique little neighborhood is a hip urban neighborhood with great charm and walkability, populated by young up and comers and first time home buyers. Baker is one of Denver’s oldest hoods, sporting Victorian architecture and the most Queen Anne Victorian homes in all of Denver.  Baker Homes are extremely close to downtown Denver.

••••► See all active listings in the Baker Neighborhood here.

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Berkeley East Neighborhood

Average Sold Price $314,000 | Change from 2007: +7%

Neighborhood Description: The Berkeley Neighborhood gets its name from tree-shaded Berkeley Park, just a few blocks away. If you have extra time, it’s a good place to stretch your legs. Stretch your afternoon into evening with an early dinner at Sabor Latino Restaurant.  Berkeley Homes are extremely close to downtown Denver, making it an ideal urban Denver location.  The Tennyson Art District is booming and you certainly don’t want to miss the First Friday Art Walk where access to the many galleries are free (city-wide, first Friday of each month).

Articles of Interest: Touting Tennyson (Denver Business Journal 2003) | Time for Tennyson (Sunset Magazine)

••••► See all active listings in the Berkeley East Neighborhood here.

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Cherry Creek Neighborhood

Average Sold Price $1,161,000 | Change from 2007: +11%

Neighborhood Description: The Cherry Creek Neighborhood is a wonderful place to live, work, play and buy real estate. From scrapes to old-money mansions to million dollar lofts on Clayton Lane, Cherry Creek has transformed itself into one of the most expensive neighborhoods to live in Denver. Between 40 to 70 percent of Cherry Creek’s neighborhoods have been redeveloped.  Cherry Creek Homes are extremely close to downtown Denver, making it Denver’s prime location to live.  Don’t miss the Cherry Creek Mall, where you can buy the latest fashion’s and see some very interesting people as they shop.  Stop by Elway’s for Denver’s best burger.

••••► See all active home listings in the Cherry Creek Neighborhood here.

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Platt Park South Neighborhood

Average Sold Price $402,000 | Change from 2007: +4%

Neighborhood Description: The Platt Park Neighborhood is almost an extension of Washington Park. It lies just south of Washington Park on the other side of I-25 and to the west of the DU area. In the last few years, Platt Park has become well known for its pleasant shopping atmosphere & fine restaurants on Old South Pearl Street including Sushi Den, Pearl Street Grill and Lola. The neighborhood is rich with sprawling mature trees, bungalows & Victorians and pop tops. In recent years we have seen some scraper homes being replaced with new construction homes & duplexes.  Platt Park Homes are extremely close to downtown Denver.

••••► See all the Homes for Sale in the Platt Park South Neighborhood here.

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East Highland Neighborhood

Average Sold Price $296,000 | Change from 2007: +7%

Neighborhood Description: The Highland neighborhood is no longer up and coming, it is one of Denver’s most sought after neighborhoods overlooking a beautiful skyline view of downtown Denver. Located just east of I-25 and the South Platte River, Highland is a diverse community with an abundance of wide-ranging homes.  East Highland borders are Federal, I-25, 38th, and Speer.

That East Highland was featured in 2009 should be no surprise to anyone, 5280 has a really hard time not featuring some aspect of the Highlands in their annual Real Estate Guide!

••••► See all the listed homes in the East Highland Neighborhood here.

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Rosedale Neighborhood

Average Sold Price $360,000 | Change from 2007: +17%

Neighborhood Description: The Rosedale Neighborhood is an up-and-coming Denver Neighborhood surrounding the Harvard Gulch Golf Course and Rosedale Park.  Located just West of the University of Colorado Denver Campus, this area has come a long ways over the last 15+ years.  There have been a ton of scrapes in this neighborhood, with older homes being knocked down in favor of brand new luxury homes.  Rosedale was recently highlighted in the 5280 Magazine 2009 Real Estate Guide showing a healthy 17% percent appreciation from 2007-2008.  Better get your home in Rosedale now, because being highlighted in 5280 will certainly drive some buyer’s to this oft-overlooked Denver Neighborhood.

••••► See all active Real Estate listings in the Rosedale Neighborhood here.

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University Hills Neighborhood

Average Sold Price $303,000 | Change from 2007: +6%

Neighborhood Description: Denver’s University Hills neighborhood is commonly called, “U Hills” by residents.  University Hills Real Estate has been revitalized due to the remodeling of the University Hills shopping area, which is located at the intersection of Colorado Boulevard and Yale.  Many of the homes in University Hills were built in the 1950s, and quite a few of them have gone through upgrades and renovations in the past few decades. Some homes are still inhabited by their original owners, and others have been purchased by young couples with children. There is a nice diversity in the neighborhood in terms of residents’ ages.  The community also has an active neighborhood association, called The University Hills Neighborhood Association, which is dedicated to constantly improving and staying in touch with all residents of the community.  

••••► See all active Homes for Sale in the University Hills Neighborhood here.

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Wash Park East Neighborhood

Average Sold Price $705,000 | Change from 2007: +8%

Neighborhood Description: Other neighborhoods aspire to the Washington Park Neighborhood standard. Featuring classic bungalows and ranch homes, tree-lined streets, quaint shopping districts, convenient and a signature park, these elements comprise the community we all wish ours could be.  Wash Park, a crown jewel in the city’s treasure chest of open space, attracts serious athletes who avail themselves to the 2.5 mile loop, playing fields and paved bike path. Dogs are the accessory of choice. Beautiful gardens, lakes and a historic pavilion complete the setting.  Washington Park Homes are extremely close to downtown Denver and have front row seating for Denver’s best attraction.

••••► See all active Real Estate listings in the Wash Park East Neighborhood here.

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OK Denver, sound off.  What did you think of the 5280 Magazine May Edition?  Did you like their approach to the 2009 Real Estate edition?  Did we make it easy to search for Real Estate in Denver’s Hot Hoods?  We would love to hear your opinions!