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)

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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.

 

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