Once again there is good news for Denver homeowners. From the latest S&P/Case-Shiller Home Prices Index, the prices of Denver single-family homes rose again in August, the fourth such increase in five months. This index report compares price trends among thousands of single-family homes in 20 housing markets.
With an increase of 0.4 percent, prices of Denver homes were better than all the 20 major U.S. cities in the report, which grew by only 0.2 percent. Denver also bested the group for month-over-month and year-over-year increases.
For the last 12 months the news was a bit less bright, with average Denver home prices falling 1.6 percent, but this was still a smaller drop than the 3.8 percent drop experienced by the 20-city total for the same time period.
The Case-Shiller report also assigns index values to the 20 participating cities based on today’s average home prices versus prices in January 2000. The August index value for Denver was 126.47, which translates to Denver home prices being 26.47 percent higher in August 2011 than in January 2000. The average index for the 20-city group was 142.84 for August versus January 2000.
So while the overall housing market is still weak these numbers give reason for hope, especially for those living in Denver neighborhoods.
Let the professionals at the Bandy Team help you buy or sell a Denver home, contact us for a no-obligation consultation. If you’re thinking about buying a home in Denver, we can show you some terrific properties in Denver, including homes in Denver Highlands and real estate in Washington Park (also known as Wash Park). You may also be interested in horse property in Franktown or homes in Parker, including a wide variety of homes in Canterberry and real estate in Stonegate.