Denver, CO
Nine in 10 Denver area homes lost value in the past year, Zillow reports
Metro Denver is leading the country for the share of homes that have lost value over the past year, with 9 in 10 homes down in price compared to only half nationally, according to an analysis from Zillow.
About 91% of metro Denver homes lost value in the past year compared to 53% nationally. Denver edges out other once-hot metros like Austin, with 89.5% of homes down in value and Phoenix, with 86.9% down the past year.
Home prices have bounced around in a narrow band since the peak in June 2022, making it hard to discern the overall trend. Overall, Denver home prices are about 10% below the peak, matching the average decline measured nationally, Zillow said.
“Denver’s home values were growing in 2024, so it’s natural to see a bit more giveback now. What stands out more is the depth of the losses. The average Denver home has lost about the same as the national average, while Austin’s average drop is more than twice that,” said Mischa Fisher, Zillow’s new chief economist, in an email.
While nearly all Denver homeowners have lost equity, those losses are mild and very much in line with what homeowners across the country are experiencing when measured from the peak, he said.
If the declines accelerate, however, the situation could prove problematic for first-time buyers who bought near the top, especially if they made only a small down payment and are forced to sell.
The Zillow Home Value Index for metro Denver, which includes both homes and condos, peaked at $592,969 in June 2022. Last month, its index reported a value of $530,699. That represents a decline of $62,270 or 10.5%.
In Colorado, the average commission that a seller pays is 5.65% of the sales price, which would mean about $30,000 that needs to be covered. Someone who bought a typical home at the peak and sold last month would be down about $92,000, not counting other closing costs.
Back in 2022, the average down payment a first-time buyer made was 6%, according to the National Association of Realtors. And someone using a 30-year mortgage might pay down principal by about 5% or 6% in the first three years. It isn’t 10% because the bulk of monthly payments in the earliest years of a mortgage go to cover interest.
Vulnerable buyers, however, represent a small share of the overall market. The volume of activity or turnover has slowed down since the peak, and of the homes that do sell, only a quarter to a third are claimed by first-time buyers. Depending on where they bought, when they bought, and how much they put down, even those buyers might still have equity.
“Absent a major hit to the economy, most of today’s paper losses will likely have turned into profits down the road when recent buyers sell,” predicted Fisher.
Another way to look at the stress on a specific housing market is what share of homes are being listed below the last price paid. From that viewpoint, Denver’s market is still in good shape.
About 6.3% of homes in metro Denver are being listed below the prior sales price, which compares to 3.4% nationally, according to Zillow. The metros with the biggest shares of homes being discounted are San Francisco, 14%; Austin, 13%; San Jose, Calif., 9% and San Antonio at 8%.
In 2019, 0.6% of homes sold below the prior sales price in Denver, compared to 5.9% nationally. That measure has improved nationally but deteriorated locally. Building equity looks like it will be more of a slog for buyers who started down the home ownership trail late in metro Denver, and they will need to watch their footing. But patience will still be rewarded, Fisher argues.
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If you use Santa Fe Drive as a part of your daily commute, you will notice full closures this weekend on a popular section, from Florida Avenue to Evans Avenue, for the installation of a pedestrian bridge.
Once the 370-foot pedestrian bridge is completed, it will connect the east and west portions of Denver’s Overland neighborhood. This bridge will be used by pedestrians and bicyclists.
The Denver Department of Transportation and Infrastructure says this closure is needed to keep the traveling public safe. Large cranes will be used to set the two spans in place. Each one weighs about 215,000 pounds and is 180 feet long.
Once the bridge is completed in 2027, it will create a safer connection for pedestrians and bicyclists. It will link neighborhoods to trails, transit, parks, and local businesses without requiring residents to cross heavy traffic.
“Our neighborhood is quartered by transportation routes, so having a safe pedestrian bridge that can take people from one side to the other is an amazing development that neighbors have been asking for for years,” Jenn Greiving, President, Overland Park Neighborhood Association, said.
The Santa Fe Drive closure will begin at midnight on Saturday, July 11, and end on Monday, July 13, at 5 a.m. There will be detours in place. This includes:
- Southbound Santa Fe Drive Detour: Traffic will be routed to Platte River Drive to reenter southbound Santa Fe Drive at the West Evans Avenue on-ramp.
- Northbound Santa Fe Drive Detour: Access to northbound Santa Fe Drive will be at Mississippi Avenue via South Broadway Street.
- On-Ramp Closure: The West Evans Avenue on-ramp to northbound Santa Fe Drive will close at noon on Friday, July 10, to prepare for the full weekend closure and will remain closed until 5 a.m. on Monday, July 13. Traffic will be detoured to South Broadway Street to re-enter northbound Santa Fe Drive via Mississippi Avenue.
- Off-Ramp Closure: The southbound Santa Fe Drive off-ramp to West Evans Avenue will close for the full weekend period and remain closed until Friday, Sept. 11, while crews build new sidewalks and perform other concrete work at the southwest corner of the project. Detours will be posted to West Florida Avenue, West Dartmouth Avenue or West Hampden Avenue to bypass the ramp closure
During this closure, DOTI will reopen the underpass on Iowa Avenue. This is a new ADA accessible pathway that will be available between Santa Fe Drive and Acoma Street.
DENVER (KDVR) — Two officers, one now formerly of the Denver Police Department, face multiple charges relating to separate incidents in the past two months.
According to a release, now-former Denver Police Officer Gabriel Lucero was issued a citation for third-degree assault, official misconduct and false reporting, while Officer Javon Leach was cited for reckless driving and eluding.
The incident involving Lucero reportedly occurred on May 22 just before 1 a.m. in the 500 block of 16th Street. According to a release, Lucero was involved in an assault at a business, as he allegedly assaulted a person and walked away as others continued to assault the victim.
Security guards and an off-duty officer escorted him and the group out; however, Lucero reportedly identified himself as a Denver police officer and attempted to re-enter by using his police badge.
Lucero reportedly provided a false name without any other information, and further investigation verified Lucero as the person involved. Lucero was hired in 2025 and, due to his current probationary status, was fired as of Wednesday.
The incident involving Leach occurred around 1:41 a.m. on June 21, when Leach was reportedly pulling out of a parking lot on Larimer Street, attempting to drive against traffic.
Leach reportedly refused commands to stop as he left the area. Officials said he was found just seven minutes later, traveling at high speeds northbound on Park Avenue West.
He reportedly fled a traffic stop and continued to drive away, and officials deemed Leach to be the suspect following an investigation. He was placed in an off-line assignment while the case progresses, as they are considered misdemeanors.
“The Denver Police Department’s administrative review of Leach’s incident will begin once the criminal case is adjudicated, and that process includes the Denver Department of Safety and the Office of the Independent Monitor, a civilian oversight agency,” the release said.
Denver Nuggets standout forward Peyton Watson could find himself on another team before you know it.
With the Nuggets reportedly open to a sign-and-trade of Watson, could Denver really lose a core piece to their rotation?
It’s hard to imagine many teams being able to shoulder the financial weight of a Watson contract at this point because of the aprons and such, but he’s absolutely an asset to any contending team.
We’ve gone through and identified a few teams that make sense for Watson in the fall… including the one he’s already on at the moment. Hey, he might stay home, you never know!
The Clippers have been linked to Watson as a possible destination; he could help them immensely.
The Pistons have also been linked to Watson, which would help them a lot to contend for an NBA title.
Look, HYPOTHETICALLY, the Nets could move around some cap space with some player trades and such and get a deal done. They are one of the only teams in the NBA right now not in the negative with cap space.
The Grizzlies are the team with the least amount of negative cap space right now, per Spotrac. If they really wanted to pull off a Watson sign-and-trade… it would be hypothetically possible from a money standpoint.
Denver Nuggts
Look, it’s very possible Watson just stays in Denver on a brand-new deal. Who knows at this point?
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