According to real estate site Redfin, investors are snatching up homes at an unprecedented pace across the country, and that includes metro Denver. What does that mean to buyers? More competition for individual buyers trying to find a place of their own in an undersupplied market.

More than three in 10 homes purchased in Atlanta and Charlotte, N.C., went to investors in the third quarter. Metro Denver tracked closer to the national averages, with investors accounting for 17% of home sales, up from their 9% market share in the same quarter a year earlier. That represents 2,831 homes of the 16,811 sold during the most recent quarter, up from 1,646 homes of the 17,577 sold in the third quarter of 2020, according to the study.

Not only are investors buying more single-family homes than they historically have, but their purchases are also skewing more toward mid-priced and higher-end homes rather than entry-level homes, which have gone from a majority of investor purchases to a little more than a third, Redfin’s research shows. In Denver, the median price investors paid for a home was $508,700, according to Redfin.

Andrew Abrams, chairperson of the Market Trends Committee at the Denver Metro Association of Realtors said he has worked with clients wanting to pick up a second or third home to boost their income up to an active investor with 300 townhomes in his portfolio.

Abrams said first-time buyers should pursue property types where investors are less active right now, such as condos and townhomes.

Condos and townhomes offer a lot of amenities single family home don’t such as exterior maintenance, snow removal, pool and gym facilities, and much more. Even if a single-family home is in your end game plan, starting off with a condo or townhome may be a great first step. If you’re looking for low-maintenance living, a townhouse or condo may be perfect for you. Give Metrowest a shout today – we’d love to discuss your options.