Appreciation Seen In Select Denver Subdivisions

A recent article in the 5280 magazine noted several Denver neighborhoods that experienced an increase in their average sales price for 2007. The article lists only some of the areas showing appreciation for the year. There are many additional subdivisions that are showing upward movement in price trends throughout the Metro Denver area.

Here are the communities listed in the recent magazine article.

Average Sales Price and Percent Increase From 2006 to 2007 For:
Berkley: $274,000; 5 percent
Cherry Hills: $2,016,500; 7 percent
Country Club Historic District: $1,082,000; 26 percent
Highlands and West Highlands: $305,011; 4 percent
Highlands Ranch: $319,000 (average of Redstone and Coyote Creek); 1.5 percent
Ken-Caryl Valley: $564,000; 5 percent
Louisville: $392,000 in 2007 and early 2008; up 7.3 percent from 2006
Mayfair: $671,000 (average of Montclair and Hilltop); 10 percent
Old Bonnie Brae: $904,212; 13 percent
South Park Hill: $456,000; 5 percent
Stapleton: $454,000; 4 percent
Washington Park: $654,000; 9 percent

Other interesting new is that according to the Metrolist numbers the number of days it is taking for a home to go under contract is decreasing. During of April 2007 it took 108 days to sell while last month, it took 103 days. Although this is not a significant difference, it is just another indicator to tell you which way our market is moving.

Metrolist figures show another interesting point. The number of buyers in the market is also increasing. Under contract properties increased by 7% this past March as compared to March of 07 and April to April showed a 2% increase. - These market indicators are saying the Denver real estate market is improving.

Feel free to contact me to discuss specifics of any community you have interest in or if you would like to know about other subdivisions showing significant promise.