Denver Home Prices to Rise 10% Over the Next 12 Months
Related to my blog last week, Does Buying in Denver Still Make Sense?, Veros Real Estate Solutions released a report this week that estimates Denver home prices will climb an additional 10% over the next 12 months, compared to the national average of 3.7%.
The only other city to exceed this level of anticipated growth is Seattle, which we looked at last week as a comparison for home prices. While Denver’s median price is currently $380,200, Seattle’s median price is $653,400 (and getting more expensive by the day, apparently). What we were looking at and trying to posit was that while Denver has become quite expensive, there are similar cities that are quite a bit more expensive- leading us to believe that Denver may not stall out any time soon.
So, there are two take-aways from this. The first is that if you ultimately plan on buying, it makes sense to do so sooner rather than later given that there is nothing to suggest home prices will decrease in the immediate future. The second take-away is that despite the expense, real estate in Denver likely remains a strong investment given the future appreciation estimates.
Call us, email us, text us, invite us to brunch. Whatever your deal is, we love talking real estate and we don’t love pressure, so if you have questions, please reach out.