Like, a lot fewer. Nationally, the number of fixer-uppers rose 12 percent when compared to five years ago, according to an analysis by Zillow.
But in Denver, the number of fixer-uppers fell by 25.3 percent.
That puts Denver with one of the lowest increases in fixer-upper properties. Sacramento won that race though — the city has 46.1 percent fewer fixer-uppers than they did five years ago.
Of course, with not many foreclosures and low serious delinquency rates, it’s not surprising that there’s not a lot of fixer-uppers in Denver. What is surprising is that there was a small increase in the mid-level fixer-uppers.
In Zillow’s report, they broke down the increases among homes prices within the top, middle and bottom tier. In another not-shock, the stock of fixer-upper homes priced in the bottom tier dropped precipitously too.
What does it matter? Well, with fewer fixer-uppers, that means real estate developers are increasingly looking to scrape properties. Plus, for some, fixer-uppers are an opportunity to get a more affordable home. In other words, it’s another signal of Denver’s growing affordability crisis.