Rising Denver Home Prices by Neighborhood
Denver’s real estate market continues to appreciate as a result of low supply and high demand in most every neighborhood. We measured the difference between 2011 and 2012 median prices by neighborhood (click here to see our complete report and neighborhood details
). Here are our results:
There are different reasons for changes in median price from neigborhood to neighborhood. For example: a rising demand for main floor master bedrooms in Polo Club North is causing prices to rise. Rising prices in South Park Hill and the Highlands are motivating buyers and developers to take advantage of lower prices in North Park Hill and LoHi respectively. Stapleton’s market remains flat as builders are keeping pace with buyer demand.
While the changes in median price vary from neighborhood to neighborhood, the general trend for Denver shows a continued appreciating market. We expect to see a slight
seasonal increase in inventory again this spring along with a significant jump in demand. To succeed in this market, buyers will need to hunt instead of fish for homes. They will need to act quickly when they find a good value — this market is very efficient. Sellers, as always, will need to price their homes right. This is especially true for more expensive homes, over $600,000, where sellers are overpricing as evident by the lengthy days on market in luxury neighborhoods. (see the full report