DENVER BUSINESS JOURNAL – When it comes to competition for buying homes, the Denver area ranks high in the U.S.
According to new data from real estate brokerage Redfin, the Denver area has seven of the nation’s most competitive neighborhoods for home sales, behind only Seattle (10) and Boston (eight).
Redfin defines competitive neighborhoods as 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.
According to Redfin, in the Denver area, the Lakeside neighborhood in Wheat Ridge, north of Sloans Lake, is the area’s most competitive neighborhood, with a median sales price of $370,000.
Copyright 2016 Denver Business Journal