Redfin released their November report on how many homes received multiple offers when the offer was submitted by a Redfin agent. Thus, this is nowhere near all-encompassing; but it's a good indicator. In November about 54% of homebuyers who submitted offers faced competition from at least one other buyer. Denver ranked as the second-most completive market in the country as 67% of Denver-area home buyers were in a bidding war. I am surprised that this percentage wasn't even higher.

Condos as a whole had the least competition with only 38% of those offers being contested, townhouse buyers faced competition 48% of the time and SFR buyer faced competition 57% of the time across the country.

Redfin Chief Economist Daryl Fairweather said, "Buyers aren't going to compete for homes that have been sitting on the market. They will typically only get into a bidding war for a newly-listed desirable home that is move-in ready." Each of us know this; but this is a great quote to share with your clients.