During the first week of March, 2018, The Denver Metro Association of Realtors announced that the average price of a single family home exceeded $500,000. This increase represents a 12% rise since last year, which is nearly double Denver's historical average increase percentage. Learn what Denver's best real estate agents think of this landmark number!
John Skrabec- Founder and Owner of Live Urban Real Estate
"I’m not surprised to see our real estate market continue its’ upward trend, and as long as supply remains low, prices will increase. I see no end in sight, until we start building more affordable, entry-level housing to meet the never ending demand. I am concerned about the anti-growth initiatives being discussed in our city, which would further decrease housing inventory and make prices go even higher."
Jana Miller- Live Urban Managing Broker
"By now, metro Denver residents are accustomed to seeing headlines indicating rising home prices. This latest rise--sending average prices over the half-million mark--marks both a real and a psychological milestone in Denver's uber-competitive market. Arguably, Denver's home prices were historically under-valued, but with this latest milestone we have reached parity with similar markets. Buyers might start to push back a little, and sellers who've been on the fence might decide now is the time to cash in on their investment. Whatever comes with this new bar in pricing, all indications are that Denver's market will remain strong thanks to low inventory and overall supply vs demand."
Jason Rogers- Live Urban Real Estate Agent
"Another way of looking at the growth of Denver’s home prices is as a barometer of the the supply of affordable starter homes. The number of homes that fit that criteria has been decreasing in Denver for the last few years."
Babs Symonds- Live Urban Real Estate Agent
"I just encourage potential buyers not to get discouraged. This is the average price and there are lower places out there that are perfect starter homes. Armed with the right attitude and commitment, home ownership is not out of reach as these numbers would indicate."