What’s Littleton really like?
I’ll give you a hint. Littleton real estate has more personality than its name implies. In fact, it has some pretty big offerings. Like Aurora or Lakewood, it is a municipality just outside of Denver and offers all the amenities of living in a major metropolis area. With only 40,000 residents, however, it keeps the classic small-town feel. Its place as the last stop of the Denver light rail just about sums it up.
Besides the near limitless offerings of Denver and Colorado, Littleton has its own charming events, including a Mardi Gras celebration, a big summer block party, a Zombie Walk in autumn and, since the late 1920s, Western Welcome Week, where much of the city gets together for dozens of events to support local organizations and charities.
Littleton is a very active community. Apart from year-round sports both indoors and outdoors, including a diving and gymnastics center, Littleton has plenty of professional teams to watch. Neighboring Denver is home to the Denver Broncos (NFL), Colorado Rockies (MLB), Denver Nuggets (NBA), Colorado Rapids (MLS), and Colorado Avalanche (NHL).
What’s a typical Littleton home like?
Well, wonderful. If you had to picture a stereotypical home, imagine a $400,000, 2-bedroom, single-family house built in the 70s or 80s. Picture a home with a small yard, fireplace, and perhaps lop-sided cookies in the oven (the altitude makes baking tricky). 40% of the population rents property, and they pay a median monthly price of $1600. For buyers, the median list price per square foot in Littleton is $267, which is even higher than the already eye-turning average of $246 for the entire Denver metropolis area.
About a third of properties are apartments, leaving plenty of opportunity for singles and small families. Interestingly, nearly a third of properties were built in the 1940s-60s, so there are numerous single-family homes with lots of character.
How has the real estate market been in the past?
The Colorado real estate market seems to avoid trouble. It evaded the real estate bust of 2008 to a significant degree. The foreclosure rate is about 4 times lower than the national average. As with many cities in Colorado, high demand and low supply rule the market. That much is sure. In other words, it can be relatively difficult to enter the market due to high costs and competition. At that stage, however, there’s a good chance you’re sitting pretty. The market keeps floating through tough times.
Appreciation is through the roof! That’s great for homeowners. Littleton enjoys some of the best home appreciation rates of any community in the nation. Properties appreciated 54.19% since 2008, an average annual home appreciation rate of 4.43%. That ranks Littleton in the top 10% nationwide for housing appreciation.
How is the current housing market in Colorado?
Mortgage rates are usually low. Recently the trend has been a full percentage lower than the national average. Of course, real estate professionals warn that these rates are not a guarantee. Trulia has graphed the statistical trends nicely.
The Littleton real estate market is relatively expensive. The median housing price for in-town Littleton homes has hovered around $400,000 for the last several years. That figure is higher than the regional, state, and national median housing prices.
Housing costs outstrip the job market and median wages. This trend has existed for several years. Locals often talk and hear about this dilemma. If you want to move to Littleton, particularly if you want to start a small business or wait until you’ve arrived to find gainful employment, know that this trend will have a bearing on your success. In other words, you may want to think twice.
What does the market look like for the future?
Well, unfortunately, one of our interns misplaced our crystal ball. So we only have solid statistics and good old common sense for predicting the future. Fortunately, the future looks bright.
The Littleton real estate market is healthy and ready to grow. Fortunately, this is true of both the city and the state. Colorado’s beautiful natural setting makes sure that people will want to live (read: buy and rent) in the state for the foreseeable future. A healthy economy is sustained by a young workforce. Millennials are a mobile group of young adults, but Colorado has a special staying power that causes many to stick around.
What are some free, high-quality online resources I can use?
We’ve got lots of other great resources to help you through the housing market. Of course, if you’re serious about buying a house, there is no substitute for professional help. We’d love to talk with you.
Want to get a better understanding of the city’s unique culture and lifestyle? Check out Littleton’s official website. Would you enjoy a historic walk from the comfort of your couch? Check out this wonderful tour. Do you prefer to use the city’s incredible Interactive Neighborhood Map or read through a popular Denver blog? Still want more? Then consider checking out Littleton’s strong liveability statistics.
Where can I find a colorful infographic about moving to Littleton?
Right here. We want to make sure you’re prepared to impress the new neighbors with your insider’s scoop.