Home Prices Rise 8.8%, Buyers Compete Over Limited Inventorylivxmin
Denver-area median home prices soared this October to levels we haven’t seen since 2006, and rising 8.8% from October 2011. The sharp increase since last year is the fastest pace of appreciation on record since 2001. A report by The Denver Post analyzed data from Metrolist, Inc. and the statistics show a median price of $250,000 for single-family homes in metro Denver today. Low inventory continues to drive prices up in many hot neighborhoods, to the benefit of sellers—though analysts caution that not all areas are seeing such a steep rise.