I am in the Denver metro area. Pretty decent neighborhood
I just sold a 3+ bed 2 Bath 1676 (1039 up, 637 finished basement) foot house with all appliances, fresh paint in and out, new roof and newer AC but old furnace (32 years or so). Corner lot with RV parking but landscape is rough, needs new carpet blah blah blah. It is across the street from the elementary school with a middle school a block away. While not a high end neighborhood it is not bad either.
We paid 185 in 2006. Listed at 182, dropped to 175 and sold at 170 because the guy could close in 2 weeks and got nothing in the way of other concessions.
We bought a house in the same neighborhood (1276 feet away as the crow fly's) it is 1476 finished up with a 1100 sq foot unfinished basement plus one rough finished room and laundry room down there now. Has new roof, new carpet, aluminum siding, all appliances except washer and dryer, Newer furnace but no ac, swamper instead. Yard is xeriscaped in back and professionally done in front with sprinkler system. We bought this place end of July for 177K.
We lost about 20K on the other place between the price and painting etc (both roofs were replaced by insurance) but at the time we bought our other place this model was selling for about 40 grand more.
I have lived in the LA and Phoenix metro areas and I gotta say this beats them both if you gotta live in the big city.