Homes for Sale in Denver with Huge Increases in Value

The Denver Metro Association of Realtors’ April Market Trends Report showed price increases in the first few months of 2022 aren’t slowing. The average new cost of a single-family home in the Denver area jumped nearly $60,000 in a single month to $797,700, an all-time high. And while that average is skewed by the inclusion of luxury home sales, the median price of single-detached homes in March also jumped, to $660,000.

Even homes in more modest neighborhoods are seeing huge increases. At the end of January, the median sale price in the 80216 ZIP code, which encompasses much of Globeville and neighboring Elyria-Swansea, was $399,000 — a relative bargain by Denver’s current standards. However, that number represented a 21.6% increase from the previous month and a considerable jump of 47.74% from two years earlier. The impact is epitomized by a 1,162 square foot two-bedroom, one-bathroom home located at 4455 Pennsylvania Street. The property sold for $150,000 on December 8, 2015. Just over six years later, on December 30, 2021, it went for $631,000, a difference of $481,000.

And the increases are just as dramatic in other parts of the city. We’ve tracked five homes located everywhere from Sloan’s Lake to West Highland, as well as neighborhoods in Virginia Village, Congress Park and Speer, either slated to hit the market this week or already listed. All are priced in what has become the middle range – $745,000 to $890,000 – and each has jumped in value by at least $500,000, with the biggest jump exceeding three-quarters of a million dollars.

Admittedly, this particular increase dates back 25 years. But all the houses have been sold between then and now, and the biggest price increases have been in recent years.

While some of the listings tout updated features (new appliances or air conditioning systems, for example), none appear to have undergone major renovations or expansions. It’s simply what they’re worth now, which is a lot more than they were before – and they’re unlikely to accept the asking price. The latest DMAR Trend Report estimates the average closing figure for a single-family home in Denver last month was 106.73% of the listing.

Continue on for more details on the five homes on their original listings, including past sale prices and their current price (or when they come on the market), ranked from smallest to largest increase in value. .

Click to enlarge

The house at 3384 West 29th Avenue.

Google Maps

5. 3384 West 29th Avenue

$745,000
Three rooms
A bathroom
1,183 square feet
Neighbourhood: Sloan Lake

Earliest listed sale price: $225,000 (December 7, 2005)
Increase in value: $525,000

Other sale prices indicated:
$210,000 (February 28, 2006)
$249,000 (May 13, 2006)
$420,000 (July 20, 2016)
$505,000 (January 7, 2020)

Click to enlarge The house at 3720 Lowell Boulevard.  - GOOGLE MAPS

The house at 3720 Lowell Boulevard.

Google Maps

4. 3720 Lowell Blvd.

$810,000
Three rooms
Two bathrooms
1,350 square feet
Neighbourhood: West Highland

Earliest listed sale price: $284,000 (March 6, 2006)
Increase in value: $526,000

Other sale prices indicated:
$423,000 (August 28, 2014)
$540,000 (August 31, 2017)

3. 1265 South Honey Way (see photo at top of post)
$725,000
Four bedrooms
Three bathrooms
2,172 square feet
Neighbourhood: Virginia Village

Earliest listed sale price: $130,000 (December 18, 1997)
Increase in value: $595,000

Other sale prices indicated:
$172,500 (July 5, 2002)
$202,500 (December 6, 2007)
$462,500 (October 27, 2021)

Available April 14

Click to enlarge The house at 2706 East 12th Avenue.  - GOOGLE MAPS

The house at 2706 East 12th Avenue.

Google Maps

2. 2706 12th Ave East

$890,000
Three rooms
Two bathrooms
1,952 square feet
Neighbourhood: Congress Park

Earliest listed sale price: $200,000 (April 4, 2002)
Increase in value: $690,000

Other sale prices indicated:
$272,000 (October 31, 2011)

Available April 13

Click to enlarge The house at 68 South Grant Street.  - GOOGLE MAPS

The house at 68 South Grant Street.

Google Maps

1. 68 Grant Street South

$875,000
Three rooms
Three bathrooms
2,149 square feet
Neighbourhood: Speer

Earliest listed sale price: $117,000 (July 24, 1997)
Increase in value: $758,000

Other sale prices indicated:
$185,000 (March 28, 2001)
$402,500 (September 12, 2006)
$474,500 (June 29, 2012)
$575,000 (September 1, 2015)

Available April 14

Laura J. Boyer