Shorter commute times are less important to Colorado home buyers

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DENVER (KDVR) — The ‘Great Reshuffling’ is changing how far Coloradans are willing to commute, according to some brand new data.

The Denver-metro area is similar to a lot of other higher costing markets where we’re seeing a lot more emphasis on home prices rising in areas that are further away from the downtown corridor.

The new data from Zillow shows the median home within a 10-minute commute of downtown is worth $533,758.

That’s $70,000 higher than it was in 2019.

When you take a closer look at homes that are 71 to 80 minutes away from the downtown corridor, you’ll notice since 2019, those homes have appreciated the most; up a whopping 32.6%.

The research also shows downtown Denver is still considered the ‘coolest area’ of the metro to live in.

Home prices near downtown are up 14.6% since 2019, according to Zillow.

“In the downtown area we’re saying this is the coolest growth place in the Denver-Metro. That’s with the caveat it still has a really high appreciation over 14% since 2019 – but we’re seeing this lower preference on living in these downtown areas in really expensive markets now that there’s not so much pressure to live near the workplace,” said Nicole Bachaud, an economic data analyst with Zillow.

According to Zillow, the Denver-metro is in the same boat as similar sized markets like Seattle and San Francisco in terms of cost and commute times.

To view an interactive map showing you how much home prices have gone up along the Front Range, click here.

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