Denver’s Single-Family Home Prices Shot Up $100,000 Over one Year
In 'What is going on?' news, the latest numbers for Denver show that the average cost of a detached, single-family home is now over $600.000.
I'm not trying to say that $500,000 for a detached, single-family home sounds about right, but for the cost of that house to increase by $100,000 from February 2020 to February 2021, seems crazy. To me.
Westword has the story on how the Denver Metro Association of Realtors released the data on February 3, 2021, in their Denver Metro Real Estate Market Trends Report showing that, yes, a house in Denver now averages at $629,000.
That turns out to be a mortgage payment of about $3,000 per month.
I sit here, flabbergasted. Sure, you can say that I could have spent my money more wisely, gotten a better-paying job, etc.. with all my years, but I do not see EVER being able to come up with $3,000 per month for a home.
Westword and the Denver Metro Association of Realtors do point out that the number of homes available has dropped by over 1,000 in the 365 days, which helped to drive up the price by $100.000, but I'm still flummoxed. Flummoxed, I say.
I would certainly hope, but somehow doubt, that each of these homeowners in homes costing over $600,000 are sitting in their 'dream homes.' I say, 'No. Not a chance.' Because, again I'm guessing, their 'dream home' costs $6,000 per month.
Get more on the 'boom' from Westword HERE.
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