Denver home re-sale prices setting an all-time high in September

Denver home re-sale prices setting an all-time high in September according to the latest monthly S&P/Case-Shiller Home Prices Index report. Denver home re-sale prices for single-family detached homes rose 10.9% over the last 12 months, which was more than twice the national average. In July the year-over-year gain was 10.3% and in August 10.7%. Denver’s S&P/Case-Shiller Home Prices Index reached an all-time high of 173.46 in September, topping August’s adjusted reading of 172.5. An index reading of 173.46 means that Denver home re-sale prices averaged 72.82% higher than they were in the benchmark month of January 2000. The index has consistently increased every month since February 2014.

S&P/Case-Shiller tracks numbers for the metro Denver, covering 10 counties including: Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties.

Denver homes are also selling faster with only 28 days on the market. Nationally, homes spend an average of 62 days on the market. Denver’s months of supply of inventory is only 1.6 months, which is significantly lower than the national average of 6 months.

If you are looking to buy or sell, please call us today to discuss your real estate needs at 303-915-1600.