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Denver Home Prices Up Almost 12 Percent This Year
Home prices across metro Denver are up 11.7 percent in October over the past year, one of the fastest appreciation rates in the country, according to Clear Capital's Home Price Index.
But that number hides a big gap between lower-priced and higher-priced properties.
The bottom 25 percent of properties in value are up 17.8 percent in the past year, while the top quartile of properties are up 3 percent.
"For any buyers of high-end properties, this clear trend signals the need to be highly vigilant with investment strategies in this market segment," said Alex Villacorta, vice president of research and analytics at Clear Capital, in a statement.
Unlike other home price measures, Clear Capital's index includes the sale of distressed properties.
Detroit normally doesn't make the list of the most robust markets for appreciation, but in Clear Capital's index, it ranks No. 1 with a 12 percent gain in the past year, just ahead of Denver. The bottom tier of that market showed a 27.5 percent appreciation rate.
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My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area. I specialize in advanced marketing, buying, selling and investing for seasoned, as well as first time....