Denver real estate market sees third fewest listing price cuts among top metros, says Zillow
The Tammen House at 1061 Humboldt. (Kevin J. Beaty/Denverite)
Denver is the third best market for home sellers, according to Zillow. There weren’t many listings that cut prices, plus the time each listing spent on Zillow was less than almost anywhere else over the past year.
San Francisco had the fewest listings with price cuts.
In fact, bidding wars were more common in Denver, says Zillow. That’s something that Estately researchers agree with — they found that Denver was among the 15 major cities with the most home sales over listing price.
But that doesn’t mean that everyone is overbidding. Estately found that 21 percent of homes sold for above their listing price in January. That’s on part with the quarter or so percent of people who bought a home for more than list price last week.
Plus, Aurora actually had more home sales for above listing price than Denver did: 27.9 percent.
Seems like most buyers are moving fast though. Redfin found that Denver was the “fastest market” among major metropolitan areas because homes were pending sale within 23 days or less on average.
With inventory plunging 28.1 percent, according to Redfin, selection is the main problem in Denver. Hm, where have you heard that before?