Today I’m posting the average prices in Central Denver neighborhoods for the past 6 months (10/1 – 3/31) and also linking to the 2014 full year averages.
The market is moving so fast I would prefer to show just the prices from the 1st quarter of 2015 or even just March. Since there wasn’t enough data to produce valid numbers, I went back 6 months and the point is still easy to make. Prices are going up.
If you look at all the areas, you’ll find a few where prices dropped. This is a great example of the flaw in stats – the same homes don’t sell every month or quarter so averages can easily reflect incorrect market conditions. The larger the data set, the better the results.
The average for all of Central Denver increased from $494,000 to $515,000 or about 4%. In the coming weeks, I’ll dig pretty deep into March data to see what market conditions I can really prove vs what I’m seeing first hand.
I’m keeping this short and sweet today but please get in touch if you have any questions or would like help interpreting the data.
Detached Single Family – Average Price – October 2014 to March 2015
Detached – Jan 2014 to Dec 2014
Condo – Average Price – October 2014 to March 2015
Condo – Jan 2014 to Dec 2014
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