Home-resale prices across the Denver metro area averaged an 8.7% gain in September 2016 compared to the same time last year according to the latest S&P/Case-Shiller Home Prices Indices report. This report shows the Denver metro area far exceeded the national average gain of 5.5%. Even so, home prices around the country have surpassed their pre-recession peak!
There are only two cities that experienced greater growth than Denver's across the year: Seattle – with an 11% gain and Portland with a 10.9% gain.
Denver's Case-Shiller home price index reached a new high in September with home resale prices averaging 88.65% higher than they were in the benchmark month of January 2000.
Case-Shiller numbers for the Denver metro area include the following 10 counties: Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties.
Home-resale prices in Las Vegas, Miami, Phoenix and Tampa still remain below their pre-recession peak levels, the report said.
The Case-Shiller index is one of several popular measures of home prices compiled by comparing matched-price pairs for thousands of single-family homes in each respective market. Prices are for resales of stand-alone single-family homes only, not for new construction or condominiums, and are meant to reflect price changes for comparable home inventory. Please note Case-Shiller does not report actual home sales prices.