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Real estate bidding wars: These Denver homes sold for the most over asking price in 2017

Posted at 12:42 PM, Jan 17, 2018

DENVER – 2017 was a great year if you were selling a home.

Not only did home prices in the Denver metro area reach new highs, but inventory – the number of homes on the market – reached a new all-time low. More than once, in fact.

MORE: 2017 ended with record-high home prices, record-low inventory in Denver

That lack of real estate inventory meant competition was fierce and homebuyers went out of their way to beat out other bidders on available homes.

In many cases, that means homes sold for much more than what the seller was originally seeking, especially homes in lower price ranges where the pickings have become increasingly slim.

Here are the 10 Denver homes that sold for the greatest percentage over the asking price in 2017, according to real estate website Estately:

10. 4601 W. 29th Ave.: Sold for 22.2% over asking

Photo: Estately

This modest three-bedroom, 2,155-square-foot house near Sloan Lake was listed in January for $325,000 and sold for $397,000 in February.

9. 2351 N. Fairfax St.: Sold for 22.6% over asking

Photo: Estately

Originally listed for $350,000 in April, this two-bedroom Park Hill home ended up selling for $429,000. It went from “active” to “pending” in just one day.

8. 2814 Poplar St.: Sold for 23.9% over asking

Photo: Estately

This Park Hill home went through two sales last year. It was first listed for $230,000 in May and sold for $285,000 in July, a difference of 23.9 percent. The home then went back on the market in November for $415,000 and sold for $435,000 in December.

7. 1563 N. High St.: Sold for 25.3% over asking

Photo: Estately

This cute Victorian home in City Park West clearly attracted a lot of prospective buyers. It was listed for $399,999 in July and sold for $500,000 in a matter of weeks.

6. 5059 Osceola St.: Sold for 25.3% over asking

Photo: Estately

Not far from Regis University in Denver’s Berkeley neighborhood, this three-bedroom bungalow went on the market for $375,000 in January and sold later that month for $470,000.

5. 4490 S. Garrison St.: Sold 29.8% over asking

Photo: Estately

This home on South Garrison Street has a Denver address, but it’s located west of Englewood. It was listed for sale in 2016 for $270,000 and eventually sold in April for $352,500.

4. 2261 Quebec St.: Sold for 36.8% over asking

Photo: Estately

Here’s another Park Hill home that proved popular with buyers. The quaint four-bedroom house went up for sale – only cash offers accepted – in December for $190,000 and sold for $260,000 in a matter of days.

3. 2438 Glenarm Pl.: Sold for 43.5% over asking

Photo: Estately

This four-bedroom home in Curtis Park has switched hands multiple times in the past few years. Most recently, it went up for sale at the end of June for $724,900. It sold in August for $1,040,000.

2. 1563 S. Acoma St.: Sold for 45.2% over asking

Photo: Estately

Built in 1890, this three-bedroom Platt Park home went on the market at the end of October for $250,000 and by the time it had sold, the price had risen to $363,000, a difference of more than 45 percent.

1. 2551 S. Bellaire St.: Sold for 48.4% over asking

Photo: Estately

The listing for this University Hills home says “Enter at your own risk,” in case you’re wondering what kind of shape it was in before it sold. The home was listed for $160,000 in May and sold – probably to a developer or investor – for $237,500 in early June.