Denver Home Prices Rise Fourth Quickest In The US

Dated: 07/02/2018

Views: 445

Image title

According to the recent S&P/Case-Shiller Home Prices Indices report released last week, only three other U.S. large markets have seen bigger jumps in home prices than Denver this year. If you are thinking you just read the same thing last month, it’s because you did. The Mile High City home price came in at #4 last month as well.

Looking at the report data, Denver's seen an 8.6 percent jump in home prices in the past year. Only Seattle (up 13.1 percent), Las Vegas (up 12.7 percent), and San Francisco (up 10.9 percent) have seen bigger jumps than Denver.

Other report highlights include:

  • Nationally, home prices have increased 6.4 percent over the past year.

  • Home prices increased 1.2 percent in Denver from March to April; slightly less than the 1.4 percent increase recorded a month earlier.

David Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, noted that one factor pushing up prices is the continued low supply of homes for sale.

And he’s right about Denver's low supply of inventory: a recent industry report this month indicated that Denver's tied for the #2 spot in the nation when it comes to lowest months of supply of housing inventory at 1.1 months. This comes in just behind San Francisco's one month supply. To put that into a bit of context, a six month’s supply indicates a market balanced equally between buyers and sellers.

While the market shows no signs of slowing, buyers who know where to look can still find great opportunities. If you’re interested in checking out what Denver has to offer, contact Metrowest – we’d love to show you around!

Latest Blog Posts

Exploring Denvers Goldsmith Neighborhood

Bound by Yale, Evans, and Quebec, Goldsmith is a popular southern Denver neighborhood that offers an easy commute to different parts of the city, as well as a quiet and residential feel. Homes here

Read More

Denvers Real Estate Scene Becoming Better For Buyers But Its Still A Sellers Market

Denver can still be considered a seller’s market, however, homes are taking longer to sell in the Mile High City, and there’s also more to choose from, according to the September report from

Read More

Home Price Gains In Denver Fall Below National Average

After years of strong appreciation, home price gains in metro Denver are falling below the national average, according to Zillow, who said its Denver Home Price Index has risen 3.4% to $411,200 the

Read More

Neighborhood Spotlight Chaffee Park

Boasting above-average public schools and a variety of dining and entertainment options, Chaffee Park is rated the #58 best neighborhood in Denver, according to ranking site Niche

Read More