Denver Takes the Number Spot

Dated: 06/25/2012

Views: 777

A recent front-page article in the wall street journal revealed that based on zip codes, Denver home values increases in April from the three previous months, were second only to those in Phoenix.

In Denver, 90 percent of the home values rose during the three-month period ending in April, up from 6 percent a year earlier, the newspaper reported. In Zillow, almost 94 percent of the homes rose in value during that time period.

Zillow used a “proprietary model, considering factors such as sales and appraisals, to determine the value off all homes in a given area,” the WSJ reported.

We even beat Washington D.C.! The analysis found that while the housing collapse was national, the recovery is uneven. Denver, by these metric, bested even markets such as Washington, D.C., which for a number of months showed housing appreciation, while other market floundered. But in the Zillow report, the nation’s capitol is up a mere 0.3 percent from a year ago, and about 40 percent of ZIP Codes showed a decline in values during the three-month period ending in April.

In the ZIP Code ranking, Denver also did better than cities such as New York, Los Angeles and Seattle.

The WSJ article said that sought-after areas that are drawing home buyers tend to be near public transportation and have good schools.

In a separate report released this week, Zillow said that Denver-area homes rose in value by 0.6 percent in May from April, slightly better than the average 0.5 percent increase from all homes in the 166 metropolitan statistical areas it surveyed.

However, on a year-over-year basis, Denver home prices rose by 2.8 percent, compared with a 0.9 percent decline for the nation. Denver ranked 10th out of the MSAs surveyed, in May from May 2011.Month-over-month, it was the third consecutive month improvement for the nation.

Blog author image

Ken Blevins

Ken Blevins, Chief Executive Officer of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 23 years of experience in collections, foreclosure/bankruptcy, los....

Latest Blog Posts

Want To Live On The Sunny Side Of Denver

As the neighborhoods in close proximity to Denver are becoming more crowded and pricey, would-be buyers are flocking further from the city to check out up and coming areas where prices may be a

Read More

Denver Market Spring Highlights

The most recent data from the Denver Metro Association of Realtors (DMAR) shows the spring selling season is off to a strong start in Denver, with sellers going for top dollar and buyers

Read More

Best Denver Neighborhoods For First Time Home Buyers

With low inventory and high home prices in Denver, first-time buyers are often overwhelmed with how quickly homes sell and discouraged with the lack of options for their first starter house. It’s

Read More

Overland Exploring Denvers Very First Neighborhood

Once run down and somewhat undesirable, Overland, Denver’s very first settlement, is now in the midst of an overhaul as once-empty storefronts along South Broadway fill out with a variety of

Read More