Something about the Mile High City has captured the fancy of North Texas residents, according to data from Zillow.
In 2022 and Q1 2023, Zillow app users in the Dallas-Fort Worth region accounted for the most Denver-area searches (19%) on the platform by people not currently residing in the area, Axios reported. Residents of Boulder (16.2%), Los Angeles (10.8%), and Chicago (10.8%) were also among the top populations eyeing properties in the Denver area.
Not surprisingly, most Zillow searches for homes in the Denver area were conducted by local residents looking for properties within their same geographical area, accounting for about 70% of total search results.
Located approximately 1 mile above sea level, Denver is renowned for its rolling foothills, sweeping mountain ranges, big city living, and much more.
The area has become an attractive destination for homebuyers and businesses due to its low taxes, central location, and its policy on marijuana, suggested David DiPetro, a Denver-based real estate broker with Compass Inc.
“After marijuana was legalized, the city exploded,” DiPetro said, per Axios.
Although Zillow search traffic indicates strong demand for homes in Colorado, most page views from DFW were aimed at the suburbs and counties just outside of Denver proper.
In fact, Denver has seen its population drop from around 717,630 in 2020 to a projected 699,288 in 2023, according to the latest U.S. Census Bureau projections.
As previously reported by The Dallas Express, Dallas has been seeing its own population decline, which tracks with a recent study that found younger families with children were leaving big cities like Dallas over their high crime rates, dismal public school systems, and the pervasiveness of homelessness and vagrancy.
Still, despite Denver’s population decline, the state saw a 1% jump in population, marking the 18th-biggest increase in the United States from 2020 to 2022.
Demand for homes in the suburbs is outpacing demand in the city, driving up property values and increasing competition, says Kelly Moye, a spokesperson for the Colorado Association of Realtors.
“I rarely have people who say they want to be in the thick of it all,” said Moye, who also serves as a Compass agent, speaking with Axios back in June. “They tend to want nature and serenity and peace and quiet.”
The Dallas Express reached out to Denver real estate broker Matt Allen for his insights into Zillow’s search data but received no response by the publication deadline.
