A family using a real estate agent offered $575,000, which was slightly more than the Barnes’ asking price. They also submitted their home to Zillow Offers, as well as instant-buying market leader Opendoor Technologies Inc.Īfter a detailed in-person inspection by Zillow, a remote inspection by Opendoor and a week on the market, the offers landed. Kyle Barnes listed the Castle Rock home he and his wife purchased in 2013 for sale in early August.
“It’s pretty crazy to watch, isn’t it,” said Michael DelPrete, who teaches a class on real estate technology at the University of Colorado’s Leeds School of Business.īut with inventories of for-sale homes at all-time lows and demand still peaking as buyers pay record prices across Colorado, brokers and real estate industry veterans don’t expect Zillow’s fire sale to have much impact on the market, even if the company sells them all in bulk to institutional investors. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.Zillow overpaid for 500 homes in Colorado's Front Range this year Close The data was last updated on: 19:02:07 PST No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Telluride Association of REALTORS, Inc. ©Copyright 2023 by Telluride Association of REALTORS, Inc. The IDX data on this web site is provided exclusively for the web site user’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the user may be interested in purchasing. The data on this web site may not be reliable or accurate and is not guaranteed by the Telluride Association of REALTORS, Inc. The inclusion of IDX Program data on this web site does not constitute an endorsement, acceptance, or approval by the Telluride Association of REALTORS of this web site, or the content of this web site. The data relating to real estate on this web site comes from REALTORS who submit listing information to the Internet Data Exchange (IDX) Program of the Telluride Association of REALTORS, Inc.
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