Metro Denver the second most competitive housing market in country after Bay Area

 Metro Denver the second most competitive housing market in country after Bay Area

Denver’s housing market was the second most competitive out of the nation’s 50 largest metro areas, with seven in 10 homes selling for above the list price in April, according to a new report from OJO Labs.

The San Francisco Bay Area led the nation with 82% of listings selling for above the initial asking price in April. Right behind San Francisco was Denver, which has shot up the ranking in recent months and is now at 70%, up from 66% in March, which ranked fifth, and 59% a year earlier.

On average, Denver-area homes sold for $33,464 above the list price in April, up from $27,045 in March and $11,916 at this time last year, according to the Austin-based real estate technology company. Nationally, just over half of all homes, 52% sold for above the list price with the average premium paid at $13,655 in the 50 top metros. That is three times the premium sellers received a year earlier.

“The pace and cost of competition continue…

Read full article…www.denverpost.com