Denver Metro Home Prices Up Over Last Year

Dated: 11/03/2015

Views: 623

   

According to Clear Capital's Home Price Index, home prices across metro Denver are up 11.7 percent in October over the last year, which is one of the fastest appreciation rates in the country.

But that number hides a large 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.

Denver also had the highest median housing prices and the highest median rent of any market between the two coasts.

The median price of a single-family home in the Denver  metro area was $338,600,  which is 86.6 percent higher than the national median price of $181,500.

The median rent in Denver was $1,964, topped only by California cities of San Francisco, San Jose, San Diego and Los Angeles and the East Coast cities of New York, Washington, D.C. and Boston.

Denver rents were 41.7 percent higher than the national monthly average of $1,386, according to Zillow.

Patty Silverstein, chief economist for the Metro Denver Economic Development Corp., the high rents and home prices “certainly speaks to the attractiveness to the Denver marketplace. There is still very strong demand for housing here.

“This is very good news if you are a homeowner,” added Silverstein, who also is principal of Development Research Partners in Littleton.

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Tatiana Torres

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