Redfin just launched a new metric called the Redfin Compete Score which measures how competitive a city, a neighborhood, and even a home is for buyers. Scores range from 0 to 100 with scores > 90 telling consumers that “most homes get multiple offers, often with waived contingencies.” This score is based on Redfin data only from their listings and agents.
Denver scored a 92 and Aurora scored 96. Taylor Marr, senior economist at Redfin said, “Many of the most competitive cities are tech hubs that have attracted an influx of people moving to the area for jobs, unmatched by the creation of new homes.” Sounds like Denver.
The most competitive neighborhoods are Marston Lake, Athmar Park, Montbello, SW Denver, Green Valley Ranch, Bear Valley, Harvey Park, and Ruby Hill.