Home prices are rising, but Denver doesn’t crack top 20 cities for million-dollar homes

Here’s one from the Dept. of Context.

Million-dollar homes are spreading through cities like San Francisco and Seattle, according to a new Trulia report. But despite rising home prices in Denver, our city didn’t make the top 20 metros for million-dollar homes.

In fact, Denver was just below the 2016 average when it comes to million-dollar homes. Nationally, 3 percent of homes are worth at least a million bucks, the report says. Denver is at 2.9 percent.

That puts Denver among the top quarter of the 100 metropolitan areas studied, but just barely.

Nor has Denver seen a dramatic increase in the percentage of million-dollar homes. San Francisco went from 19.6 percent of its homes being worth at least $1 million in 2012 to 57.4 percent in 2016.

Four more California cities saw net increases of more than 8 percent. Denver’s net increase in the share of million-dollar homes, by comparison, was 1.7 percent. Washington D.C., Silver Spring, Maryland, and West Palm Beach, Florida, saw the same increase.

The only other Colorado city to make the list was Colorado Springs. Denver outpaces Colorado Springs easily, with nearly three times more million-dollar homes.

It’s all relative.