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

It’s all relative.

staff photo
Megan Arellano

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.

Image courtesy of Trulia

Image courtesy of Trulia

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.

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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.

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