As the neighborhoods in close proximity to Denver are becoming more crowded and pricey, would-be buyers are flocking further from the city to check out up and coming areas where prices may be a
Denver Comes In High For Home Buying Competition
If you’re on the hunt for housing in the Denver metro area, chances are you’ve got some competition. With demand soaring and supply slowly increasing, it’s a good bet that the house you’re eyeing is also being perused by a handful of other potential buyers.
In fact, according to recent data from real estate brokerage Redfin, the Denver area has seven of the nation's most 30 competitive neighborhoods for home sales! We’re behind Seattle, who comes in at number 10 and Boston, which ranked eight. Overall, Denver had 10 total in the top 50 neighborhoods.
Redfin says that competitive neighborhoods are those having homes that spend fewer median days on the market, homes with a higher average sale-to-list price ratio, home price growth in the area, higher percentages of homes that sold for all cash, and homes that sold for more than their asking price.
So what’s the most competitive neighborhood in the Mile High City? Lakeside. The neighborhood near Wheat Ridge and also near Sloan's Lake is the area's most competitive neighborhood, with a median sales price of $370,000.
Lakeside by the numbers:
Homes stayed on the market for only six days
More than 58 percent sold for more than their asking price
Home prices grew more than 27 percent in 2016
The average sale-to-list-price was more than 102 percent
More than 32 percent of buyers paid all cash
Ready to check out what the Lakeside neighborhood has to offer? We’d love to show you around! Contact Metrowest today and let’s get started!
"Chris has a background in the financial services industry where he has brokered over $15B in receivables and is a frequent author and event speaker. He has been a licensed broker and real estate inv....
Latest Blog Posts
With low inventory and high home prices in Denver, first-time buyers are often overwhelmed with how quickly homes sell and discouraged with the lack of options for their first starter house. It’s
Once run down and somewhat undesirable, Overland, Denver’s very first settlement, is now in the midst of an overhaul as once-empty storefronts along South Broadway fill out with a variety of