Firestone home explosion having minimal impact on real estate market

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FIRESTONE, Colo. -- The site of a fatal explosion in Firestone that killed two people and seriously injured another is finally being cleared.

Demolitions crews on Wednesday tore down what remained of the home on Twighlight Avenue. The house was leveled on April 17 when an uncapped gas line was cut.

The National Transportation Safety Board is investigating.

The rubble from the home soon might be gone, but the aftershocks of the explosion are still being felt throughout the Oak Meadows subdivision.

"I've been out to that neighborhood to say a prayer for the family and you can't miss what's happened out there," said Kyle Snyder with First American Title.

Snyder has been keeping a close eye on the impact the explosion has had on home sales in the neighborhood.

"There were none within the first two months of the explosion. I think everyone was probably taking a breath, seeing where the market was going to go, seeing what the impact was going to be," Snyder said.

However, things have quickly turned around.

Nine homes were sold in the Oak Meadows subdivision in the five months before the blast. Sixteen homes have sold in the five months since, and most are selling very quickly.

"There was a house a few doors down from the affected property that sold in six days, so there's demand out there," Snyder said.

The average price of a home in the neighborhood is down 6.4 percent. However, Snyder said that is somewhat misleading because when comparing homes based on square footage, home prices are up about 20 percent.