Average home prices in metro Denver have increased by 10 percent from a year ago to $439,161 after a few months of smaller increases, according to the latest data from the Denver Metro Association of Realtors.
That includes both attached condos and townhomes and detached houses; it also includes new construction sales as well as resales of existing homes. For houses alone, the average price increased 10 percent in April year-over-year to $487,974, and for attached homes, the average price increased to 11.7 percent to $318,487.
January through March brought single-digit price increases that were welcome news to homebuyers in the metro area, but the progression into the spring selling season brought back the double-digit appreciation to which residential real estate watchers in metro Denver have become accustomed.
"While the Denver market has been anything but traditional over the past few years, some of the same forces that drove the market still impact buying and selling decisions," said Christie Martin, board chair for Metro Brokers Inc. and a local real estate agent. "Timing of listings to match summer moves, corporate relocation during non-school months and the continuing influx of jobseekers and people looking for a lifestyle change will keep the market hot."