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Denver’s Best and Worst Neighborhoods for Appreciation – 2010

DenverAppreciationIt’s that time of year again when we look back at the market and take account of the winning and losing Denver neighborhoods. 2010 was a fairly balanced year between appreciators and depreciators. Of the 48 metro Denver neighborhoods that we track, 22 increased in value and 26 decreased. Before we open the envelopes; here’s how we calculated our numbers.

We found the median final selling price (after concessions) for 2009 and for 2010 for the 48 neighborhoods we track on this site. We then calculated the percentage increase or decrease in median price between those two years for our final number. In addition, neighborhoods with fewer than 35 home sales, for either year, were not considered for awards, but their statistics are still available on our website.  Click here to see a rank order of all 48 Denver neighborhoods.

And the award for the top appreciating Denver neighborhood for 2010 is… Skyland at 37.7%. Where??? Skyland??? 37.7%??? Skyland is located on the North side of City Park and has a median home sale price of $225,750.

Similar to 2009, Denver was still a split market in 2010. Less expensive homes, like those in Skyland, and number two North Park Hill (21.9% appreciation, median price $249,185), and number three Whittier (16.4% appreciation, median price $221,200 ), were in high demand. The home buyer tax credit expiration in April of last year certainly helped stimulate the lower end market as well.

Not surprisingly, the 2010 neighborhoods for greatest depreciation are Hilltop (-18.7%), Cherry Hills Village (-17.3%), and Bonnie Brae (-14.6%). Greenwood Village and University Park were notable exceptions to the trend by posting appreciation rates of 7.8% and 9.4% respectively.

If we did not list your neighborhood in our analysis, or you would like for us to create a market analysis for your home, just drop us a note or give us a call.