DENVER (KDVR) — As the home shortage continues in Denver, it has many people looking for alternative options; from townhomes to condos and even tiny homes.
If you’re looking for a townhome or condo, that might even be difficult.
In April of 2020, there were 6,244 condos and townhomes available in Colorado. A year later, there are 2,067 available, which is a 66.8% decrease.
According to the Colorado Association of Realtor’s May report, the average price of a condo or townhome in Colorado is $478,596. That figure is up over 14% from this date last year.
We went onto Zillow and searched “condos and townhomes for sale in Denver” and found 466 active listings ranging from $122,500 to $13.8 million.
For the lower price ranges, square footage starts at around 360 square feet for a price tag around $200,000.
We found some listings on Realtor.com for around $130,000 for about 550 square feet of space.
The average hotel room is about 330 square feet, according to USA Today.
If you’re not finding the home you want to buy right now due to low inventory, a condo or townhome may be an option.
A single-family home in the Denver metro counties sold for a median $560,000 in March 2021. In Denver proper, they sold for $630,000.