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Home Prices Shock People Relocating to Denver

Relocating to Denver for work? Get ready for prices that are likely higher than your current city of residence. The S&P/Case-Shiller Home Price Indices reported Tuesday that Denver’s home price index reached 152.58, lapsing past previous highs of 150.58 in April and 148.18 in March, and up 8.2 percent from May 2013. The 152.58 level means that home values in May were, on average, 52.58 percent higher than in January 2000, the benchmark month.

What areas are competing with Denver in terms of regional cities with similar economies and opportunities? Kansas City, Salt Lake City, Phoenix, and Seattle, according to Zillow. According to data provided by Zillow, which tracks sales, home prices averaged $253,000 in metro Denver in May, compared with $144,600 in Dallas, $141,100 in Kansas City, $195,100 in Phoenix, $234,500 in Salt Lake City and $332,000 in Seattle. This month, home prices in Denver averaged $256,800.

While home prices are high in Denver, they are still not as high as areas like San Francisco. The main adjustment would be that Denver does not have many for sale condos available for prospective buyers.

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