Denver is one of the nation’s top markets, says national real estate valuation company

Prices are up and inexpensive homes go fast.

staff photo
A home on Meade Street in Denver's West Highland neighborhood. (Kevin J. Beaty/Denverite)

west highland; residential; denver; denverite; colorado; kevinjbeaty;

A home on Meade Street in Denver's West Highland neighborhood. (Kevin J. Beaty/Denverite)

Clear Capital, a company whose whole mission is to evaluate real estate, called Denver a top market and “one of the nation’s most talked about.”

Why? There’s the obligatory “millennials love it here,” but the company also offers some numbers. Here are the most interesting:

  • Home prices in the area have risen over 11 percent since this time last year.
  • The median price per square foot in the metro area is “now well over $120, nearly double the area’s market low of around $65 in 2011.”

There’s also a bit of discussion of distressed properties. Quick reminder, distressed properties are those that are in foreclosure or poor condition. And earlier this year, Clear Capital noted that Denver doesn’t have a lot of distressed homes to sell. For reference, here’s how little:

The national average is 14.5 percent.

In August, the national average was 14.5 percent.

The latest numbers on distressed properties show Denver still doesn’t have many:

  • Distressed saturation levels in Denver have fallen to just 5.7 percent, compared to a national average of 13.5 percent.
  • Distressed homes in Denver tend to stay on the market for just 10 days, moving four times faster than the national average of 43 days.

There you have it — a top real estate market is all about expensive homes and moving fast.

 

Weird times

Denverite is powered by you. In these weird times, the local vigilance, the local context, the local flavor — it’s powered through your donations. If you’d miss Denverite if it disappeared tomorrow, donate today.

You’re our superpower

Denverite supporters have made the decision to financially support local journalism that matters to you. Ready to tell your networks why? Sharing our “About” page with your own personal comments could really help us out.

You’re our superpower

Denverite members have made the decision to financially support local journalism that matters to you. Ready to tell your networks why? Sharing our “About” page with your own personal comments could really help us out.