FIRESTONE, Colo. -- One year after a home explosion in Firestone, many people are wondering how the tragedy impacted the home prices in the Oak Meadows subdivision.
Officials say the explosion was caused by gas leaking from a broken flow line, owned by Anadarko Petroleum. It has been closed and repaired.
“I hope it doesn't affect me trying to sell the property,” said Daniel Jones, who lives in the same subdivision and just put his house on the market.
He hopes to get a good price for his house, but wonders if buyers will be spooked.
Kyle Snyder with First American Title took a look at the data for Oak Meadows on the Northern Colorado MLS system comparing stats from one year before the explosion to one year after the explosion.
He found prices in the subdivision increased 3.5 percent, but prices in the greater Firestone area increased 5.9 percent.
“The inventory is way down, so relatively speaking, the subdivision is doing pretty good,” Snyder said.
Plus, the average price per finished square foot is up $11 in the year after the explosion, and the number of days on the market is down 33 percent.
“That’s significant,” Snyder said. “That just shows there’s demand for houses out there.”