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
Resale Prices On The Rise In Denver
Denver’s real estate market shows no signs of cooling down as recent data from the S&P/Case-Shiller Home Prices Indices report shows. Home-resale prices in metro Denver rose by 9.2 percent (nearly double the national average) in January from a year earlier, the highest annual growth rate since last July. Additionally, Denver once again ranked third among the 20 large cities for year-over-year growth in home resale prices.
Other highlights from the report include:
Only Seattle and Portland saw greater annual growth rates in January, at 11.3 percent and 9.7 percent respectively.
Nationwide, home-resale prices rose 5.9 percent in January from a year earlier.
Denver's Case-Shiller home price index in January set a new record at 190.75. That means that local home resale prices averaged 90.75 percent higher than they were in the benchmark month of January 2000.
Case-Shiller numbers for metro Denver cover a 10-county area: Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties. The Case-Shiller index is compiled by comparing matched-price pairs for thousands of single-family homes in each market.
While prices here are on the rise, there are certainly good deals to be found. That is, if you have the right pros on your team. If you’re in the market to buy in Denver, give Metrowest a call today 720-932-4401 – we’d love to show you around!
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