In a bit of good news for area home buyers, the median home price in metro Denver remained unchanged in June, which may be a signal that the real estate market in the Mile High City is hitting its
Home Values Growing In These Denver Neighborhoods
Last week we told you about the up and coming Greenfield neighborhood in Denver, a southeast suburb known for great amenities like community pool, hiking trails and more. But what other Denver neighborhoods should you be on the lookout for? Here’s we’ll give you the rundown of where home values are growing the fastest and strongest.
According to real estate site, Zillow, the following will be the Denver area's fastest appreciating neighborhoods in 2017:
1. City Center North (in Aurora) – 8.8 percent forecasted home value growth;
2. Centretech (in Aurora) – 8.7 percent forecasted home value growth;
3. Elyria-Swansea (in Denver) – 8.6 percent forecasted home value growth;
4. Globeville (in Denver) – 8 percent forecasted home value growth;
5. Westwood (in Denver) – 7.6 percent forecasted home value growth.
Exactly what is fueling the rapid expansion and growth in the Mile High City? And why is Denver listed among the top ten hottest real estate U.S. markets for 2017? Experts at Zillow said it used the following variables to come to their conclusions:
*Zillow’s Home Value Forecast
*Recent income growth
*Current unemployment rate
According to data from Zillow, Denver area homes are expected to appreciate 3.6 percent in 2017, which falls above the national average of 3 percent.
Home sales prices in Denver are already quite strong. According to the Denver Business Journal, year-to-date average sale price for all kinds of homes combined in 2016 in metro Denver was $399,576, an increase of 10 percent over 2015, while the median was $349,900, which is a year-over-year increase 11 percent.
Andy Potarf is a native of Denver and a graduate of Colorado State University. He works with first time homebuyers needing help getting prequalified all the way up to and including seasoned invest....