Much of Metro Denver's Home Prices Off By 2%

Today's Denver Post reports that according to Zillow, an internet real estate housing price tracker, much of the Denver housing market dropped by close to 2.0 percent  compared to the first quarter of 2006.  The Zillow index uses sales data collected from the county tax records to estimate values for entire cities and neighborhoods.

Personally, I have often found Zillow's reporting to be off by several percentage points on specific homes. However, as a broad-based barometer in accessing the general Denver real estate maarket, Zillow probably is fairly accurate.

Whether the information on your home is accurate or not, the site is interesting.  The information that does tend to be accurate is the reporting on more recent home sales.  It can be both fun and enlightening to see what your neighbor's home has sold for.  It is also possible to change the information on your own home if it has been misrepresented.

A few minutes spent at www.zillow.com can be both fun and entertaining.  If serious information on the value of your home is more what you have in mind, there probably never will be anything that will replace a competent professional market analysis. Please call a TeamCox member and we will be happy to share our experience and knowledge.