Price Change Map: NE Metro (Thornton / Commerce City)

While everyone fixates on how the average home price in Denver declined 13% in the last year, we overlook an important tenent of real estate: location, location, location. Every one of the 400+ neighborhoods in metro Denver we track had a slightly different response to the market!

The attached chart shows different neighborhoods in our region. Each region has the neighborhood’s name and the percentage of sales in the last twelve months that were either short sales or bank-owned properties. The second line has the price change in the twelve months from January to December 2008 vs. 2007. Next, you’ll see the average home price in the last twelve months and the average days on market (DOM). There had to be at least twenty sales in the last year for an area to be included. The numbers are more reliable in areas where there were more sales.

How can you use this information to help your clients make better decisions?