Denver Is Number 2 For Condo Inflation

Dated: 11/03/2015

Views: 280

Denver and Dallas are the dynamic duo for condo inflation nationally, according to a third-quarter update from Zillow.

Image title

Condos in metro Denver have appreciated 19.7 percent in value the past year, second only to a 20.1 percent gain in Dallas-Fort Worth out of 35 cities that Zillow tracks.

Denver, however, is a more expensive market, with an average condo value of $200,700 versus $137,300 in Dallas, as measured by Zillow's Home Value Index.

Nationally, condo values rose 5.1 percent versus a 3.7 percent gain for single-family homes, which include townhomes.

Single-family homes are up 15.9 percent in value in metro Denver the past year. At $338,600, the average cost is out of reach for many first-time buyers.

That has made condos a more affordable alternative for renters looking to escape the squeeze of double-digit rent increases.

But outside of the luxury market, Colorado has seen minimal new condo construction since the downturn, which builders blame on the state's construction defects law.

Supporters of the law argue efforts to weaken it will invite the return of sloppy construction practices seen last decade.

Denver Colorado Real Estate Professional -Michael Steffen

Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; DenverArvada,Aurora and surrounding areas. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! For help with buying or selling a property call 303-981-2750!

Blog author image

Michael Steffen

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....

Want to Advertise on this Site?

Latest Blog Posts

OPEN HOUSE In Beautiful Morrison CO June 24

Come see us before Widespread Panic tomorrow night! Or, for some of you, come see us before you go to sleep from seeing Widespread the night before!  Either way...OPEN HOUSE Sunday, June 24th

Read More

Ultra Luxurious Soho Penthouse Is This Weeks Most Expensive New Listing

Highest Listing This Week for a Penthouse in SoHo! Can you quess how much ?!!?? .......$65 MILLION= 8000sqft + 4Beds + 6Baths  The kitchen reminds me of a

Read More

Gorgeous Condo 5 Minutes From The Lake Under 250k

Gorgeous well maintained condo off of C470 and Wads. Quick 5 minutes to the entrance of Chatfield Reservoir. Swim beaches, campground, recreational ponds for paddle boarding, canoeing, kayaking

Read More

Open House In Crystal Valley Ranch Castle Rock

You have to come see this model-like home in the new Crystal Valley Ranch community.  Only one year old, this home is great for those looking for a quiet and secluded neighborhood full of

Read More