Testing…is this thing still on? It has been some time since we here at Walters & Company have connected with our friends and community about the world of Real Estate News and happenings in the Denver area. Along with the fresh start a new year always brings, we hope to expand our social media presence in 2018 in an effort to bring our followers up-to-date information and stay connected with our community. We are so pleased to have you along for our journey!
2018 is off to a hot-market start here in the Denver area. Last year, Denver home prices were appreciating at a pace that put Denver in the top 5 housing markets in the country. However, this appreciation in home pricing slowed a bit towards the end of 2017, allowing other markets with accelerating prices to catch up (according to the latest S&P CoreLogic Case-Shiller Indices.) This tends to happen when prices are continuing to appreciate rapidly – the numbers eventually plateau once they can no longer be sustained at that pace. At the end of 2017, Denver maintained a 7 percent rate of appreciation in home prices. The average increase for the 20-city study conducted by S&P CoreLogic Case-Shiller was 6.3 percent, which marked the 28th month that home price gains nationally have run above 5 percent; Denver still remains a hot market!
Speaking of hot, let’s take a moment to focus on a few of Denver’s “hottest” neighborhoods for 2018. According to Redfin, the three hottest spots for Denver homes are in the Green Mountain area of west Lakewood, the Applewood area also in Lakewood, and the Regis neighborhood in North Denver.
In west Lakewood, the gateway to the Rockies, you will find the Green Mountain neighborhood. Homes there have an average sale-to-list price ratio of 99%; 22% sold over list price (as of December,) and homes spent an average of just 28 days on the market. Talk about hot!
Homes in the Applewood neighborhood of Lakewood have an average sale-to-list price ratio of 97.3%; 8% sold over list price (as of December,) and homes spent an average of 55 days on the market. Applewood is a wonderful part of Lakewood and deserves a look from anyone in the market!
Finally, Redfin points to the Regis area as one of Denver’s hottest neighborhoods for 2018. Homes in this area have an average sale-to-list price ratio of 100.4%; 54.8% of homes sold over list price (as of December,) and homes spent an average of just 46 days on the market. With its close proximity to the city and access to major highways, Regis is an awesome neighborhood with huge potential.
So there you have it – a quick update on Denver’s hot spots as they’re shaping up for 2018; we’re off for another week in the world of Denver real estate life. Stay updated on all things Walters & Company by following us on Facebook, Instagram, and Twitter. Thanks for reading!