Home Values Are Climbing in Colorado

At a time of low mortgage rates, see if homes in the Centennial State are a good deal.

Colorado flag. Colorado state flag hanging on a pole in front of the house. State flag waving on a home displaying on a pole on a front door of a building. Flag raised at a full staff. The Art of Pics / Shutterstock

Thanks to today's low mortgage rates, it's an excellent time to buy or sell a home across the U.S. But what about in Colorado?

Is the state's housing market too pricey for buyers? Not-so-great if you've got a home you want to sell? Or just right — for everybody?

Home values provide some answers. They indicate that the market in Colorado is heating up, according to Zillow, though you might find vast differences from one city or one corner of the state to the next.

Current home values in Colorado

Home values have been rising throughout Colorado and are up 3.93% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $380,800 , Zillow says.

Could you afford that? Let's say you want to buy that mid-priced home using a 30-year fixed-rate mortgage at this week's average interest rate, which is a low 3.69%, says mortgage company Freddie Mac.

With the 30-year mortgage rate at 3.69% and the median home value for Colorado at $380,800 , a representative monthly mortgage payment would be $1,750.60.

How the Colorado housing market stacks up

A ranch fence overlooking Mount Wilson, Colorado
shaferaphoto / Shutterstock
A ranch fence overlooking Mount Wilson, Colorado

Property values in Colorado are high by historical standards and are higher than what the typical house is worth nationwide.

The median home value throughout the U.S. is $229,600, which is up 4.88% from a year ago.

Zillow predicts U.S. home values will rise 2.2% over the next year, while in Colorado, they're expected to rise 0.45%.

Homes are going on the market in Colorado at a median price of $248 per square foot, versus $155 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Colorado home prices over the last 10 years

Year Avg. Price
2019* $390,700
2018 $375,842
2017 $351,058
2016 $321,000
2015 $286,692
2014 $255,242
2013 $235,908
2012 $219,300
2011 $212,642
2010 $220,892
2009 $224,342

*2019 price average through August 2019.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Colorado is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2019* $620,000
2018 $592,500
2017 $555,000
2016 $507,500
2015 $462,500
2014 $407,500
2013 $377,500
2012 $347,500
2011 $335,000
2010 $350,000
2009 $352,500

*2019 price average through August 2019.