Spike in Home Prices Surrounding Denver
Denver likes to complain about rising home prices, but the spike in the surrounding metro area is even worse. Search homes for sale in Flying Horse, Colorado Springs, CO here: http://www.rehava.com
What’s happening: In the last five years, average home prices increased in some metro area ZIP codes by more than 60%, according to a new Axios analysis of Zillow data.
The largest spikes occurred in Denver’s closest suburbs, the mountain foothills and parts of the Eastern Plains.
Drive Until You Can Afford It
What they’re saying: “You know what they say, you drive until you can afford it,” Kentwood Real Estate broker Jill Schafer told Axios.
By the numbers: 30% of Denver-area ZIP codes saw housing prices increase by 50% or more, the analysis found.
These are the five areas with the largest average home price increases from April 2016 to April 2021:
80105: Deer Trail in Arapahoe County. Up 61.9% from $227,394 to $368,228
80455: Jamestown in Boulder County. Up 61.9% from $321,438 to $520,421
80425: Pine in Jefferson County. Up 61.6% from $350,993 to $567,335
80030: Westminster in Adams County. Up 60.4% from $259,948 to $417,055
80216: Denver. Up 60.1% from $228,607 to $365,954
Between the lines: Denver’s prices started at an elevated level, like those in Boulder and Douglas County, so the increases were significant but not as steep as outlying areas.
The other side: Only one ZIP code experienced an increase less than 30% — 80202 in downtown Denver at 16%.