Move up homeowners are very common in the Denver metro market. They are the owners with an “empty nest” and a more disposable income, they don’t “need” a new home, it’s a matter of “want.” They are the fussy ones who know what they want and are willing to pay for it.
The high-end market is back; much of this market is being driven by the “leaving California” syndrome. Homeowners in the Golden State have realized enormous equity gains in recent years. In order to move up, they have to look at spending into the millions or driving hours to afford a nice new home in the burbs. When Californians start reviewing their options, Denver looks very good. In Denver, they can buy a huge home, in a safe neighborhood, with excellent public schools and eliminate a mortgage payment and put some money into the bank.
Curious about metro Denver real estate prices? Here's a map of Denver to visit, for neighborhood descriptions and home prices.