Home values are on the rise across Colorado as a whole as well as in its seven metro areas, according to the most recent Zillow Home Values report.
The Zillow Home Value Index compared home values in January 2013 with January 2014, and Colorado’s average had increased 7 percent. That beats the national average, which was 6.3 percent.
According to the Colorado Division of Housing, Boulder, Fort Collins and the Denver metro area not only have the highest home values in the state, but their home values have shown the most stability and/or growth. Prices in Denver metro, Boulder, Fort Collins and Greeley have now all risen above peak levels from before the financial crisis.
An improving job market, attributed in part to oil development, helped drive demand for real estate and boost Greeley’s home values, which had the most growth over the year, reports the CDH.
Boulder also has the highest home value level of all Colorado cities, according to Zillow, while Pueblo has the lowest. And Grand Junction saw the biggest decline in home values in recent years, with home values falling from about $220,000 in 2007 to $174,000 more recently.
The year-over-year changes for Colorado and its metros, according to Zillow, were:
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