According to the latest survey by Zillow, home prices in Denver real estate prices have increased 14.3% over the last year. A recent article by the Denver Post stated:
National home values continued a march upward in April with Denver showing a year-over-year increase of 13.4 percent, according to the April Zillow Real Estate Marketing report released Wednesday.
Denver experienced a home-value gain between March and April of 1.0 percent, according to the report. The median home value in Denver was $237,100.
Zillow said home values nationally were up 5.2 percent year-over-year in April, marking the sixth consecutive month of appreciation at or above 5 percent.
The last time home values were at this level was in June 2004, said the report.
Home values between March and April increased 0.5 percent nationally, to a median of $158,300.
Rents cooled slightly in Denver in April compared with March, declining 0.1 percent with a Zillow Rent Index of $1,566. However, rents were up 9.1 percent in Denver year-over-year.
National rents declined slightly in April compared with March, down 0.2 percent to a Zillow Rent Index of $1,288.
Year-over-year, national rents were up 4.9 percent in April.
The Zillow Rent Index is the median estimated monthly rental price for a given geographic area on a given day and includes the value of all single-family residences, condominiums, cooperatives and apartments in Zillow’s database.
The report said 55 percent of the 365 metro areas surveyed saw home values climb in April from March, with Sacramento, Calif., experiencing the largest monthly increase, at 3.4 percent.
Read more: Denver Post