Denver metro home prices

Denver Metro Home Appreciation

How have Denver home values changed since 1991?

This graph gives us a place to start. Take a look at the good years, the tougher years, and where things stand today.

Denver-Aurora-Centennial, CO · FHFA purchase-only index · Seasonally adjusted

Data through Q2 2026. Retrieved 2026-10-11. Preview for editorial review.

Denver home prices since 1991

That doesn’t mean every home in Denver changed by the same amount. The next question I’d ask is what’s been happening in your neighborhood.

We can look at comparable sales from the past three to six months and the homes competing for buyers now, then consider location, condition, layout and improvements. If you want a closer look, a full comparative market analysis (CMA) is an option.

The seasonally adjusted Denver metro index changed +608.3% from Q1 1991 to Q2 2026. The most recent complete year, 2025, changed −3.1%. From Q4 2025 through Q2 2026, it changed −0.4%.

Choose a quarter from the list to highlight it on the chart. Exact values for every quarter are in the Data view.

Quarter

Cumulative appreciation

Percent change since Q1 1991 · baseline 0%

Q1 1991 · 0% baselineQ2 2026 · +608.3%

Quarterly observations, connected without smoothing.

Year-by-year changes

Q4 to Q4, not cumulative. The selected quarter highlights the nearest complete year. 1991 has no prior Q4 comparison; full years start in 1992. 2026 is partial and shown separately.

1992: +9.8%; Increase
1993: +11.8%; Increase
1994: +8.5%; Increase
1995: +5.2%; Increase
1996: +4.8%; Increase
1997: +5.8%; Increase
1998: +9.3%; Increase
1999: +13.1%; Increase
2000: +13.8%; Increase
2001: +6.0%; Increase
2002: +3.7%; Increase
2003: +0.8%; Increase
2004: +2.9%; Increase
2005: +5.1%; Increase
2006: −0.3%; Decrease
2007: −3.3%; Decrease
2008: −4.8%; Decrease
2009: +5.0%; Increase
2010: −0.4%; Decrease
2011: −2.2%; Decrease
2012: +11.1%; Increase
2013: +9.9%; Increase
2014: +10.5%; Increase
2015: +12.0%; Increase
2016: +11.1%; Increase
2017: +9.5%; Increase
2018: +6.4%; Increase
2019: +5.2%; Increase
2020: +10.7%; Increase
2021: +17.4%; Increase
2022: +3.4%; Increase
2023: +3.3%; Increase
2024: +1.6%; Increase
2025: −3.1%; Decrease

Average annual appreciation · Q1 1991 → Q2 2026: +5.7%; Per year, compounded over 35.25 years. This smooths out the ups and downs, not a gain every year.; Since Q4 2006: +5.1% per year, compounded.
2025 · Full year: −3.1%; Decrease; Q4 2024 to Q4 2025. Most recent complete year.
2026 · Year to date: −0.4%; Decrease · partial year; Q4 2025 to Q2 2026. A half-year change.

What’s happened lately?

Change in the metro index from one quarter to the next.

Q3 2025: +1.0%; Increase
Q4 2025: −1.6%; Decrease
Q1 2026: −0.3%; Decrease
Q2 2026: 0.0%; Little change

What would you like to know about your home?

How is my neighborhood doing compared with Denver?How has the market changed since I bought?What should I know if I’m planning a move?I’m just curious about the numbers.

Source: FHFA quarterly purchase-only metro dataset, CBSA 19740. Retrieved 2026-10-11. Calculations by The Granger Report.

Sources, calculation and scope

This page uses the FHFA purchase-only quarterly House Price Index for Denver-Aurora-Centennial, CO, CBSA 19740. The index uses eligible single-family repeat purchase transactions associated with mortgages acquired by Fannie Mae and Freddie Mac. Cash purchases and loans outside this coverage are not represented in the same way. This metro index is not an individual home valuation or return, and its geography and method differ from the 11-county REcolorado Market Watch report.

Every displayed change comes from the seasonally adjusted column in the same downloaded file. Seasonal adjustment estimates recurring patterns, but does not explain why prices changed. FHFA can revise earlier observations. The local snapshot also retains the non-seasonally-adjusted values, but those are not used here.

The verified series starts at Q1 1991, the FHFA native base of 100. Each chart range rebases its starting quarter to 100 and shows cumulative change from that quarter, not the index level. Full history starts at Q1 1991; Since 2006 starts at Q4 2006. Change = (current index ÷ comparison index − 1) × 100. Full-year changes compare Q4 with the previous Q4; 2026 year-to-date compares Q2 2026 with Q4 2025. Full-year comparisons begin in 1992. There is no Q4 1990 observation to calculate a full 1991 year; 2026 remains partial. Calculations use published index values, then round to one decimal place for display. Changes smaller than 0.05 percentage points in either direction display as 0.0%, labeled “Little change,” without a directional arrow. This rounded display does not imply exactly zero. Plot positions and the CSV retain unrounded calculated values. Average annual appreciation is the compound annual growth rate: ((ending index ÷ starting index)^(1 ÷ elapsed years) − 1) × 100. Elapsed years are the number of quarterly intervals divided by four. It is not the arithmetic average of annual changes or an individual home’s annual return. The graph still shows total cumulative change from the selected starting quarter.

The FHFA file calls this metro Denver-Aurora-Centennial. Older material may use Denver-Aurora-Lakewood. Metro names and boundaries follow federal delineations and can change; this chart uses the current file’s continuous series, not a splice of differently named source vintages. Local submarkets and property types can differ. No forecast or individual valuation is implied.

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Curious how your neighborhood compares?

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