Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Thursday, May 13, 2021
I know that you've heard that it is a strong seller's market and there is lots of competition amongst buyers for many new listings -- but did you know HOW extreme it has become in our local market?
Two houses are referenced below that have come on the market in the past month or two. Neither of these were my listings, but I did have a buyer make an offer on each of them -- and the buyers missed out -- their offer was not the chosen one...
Anonymous Property #1
Priced between $200K and $250K
16 offers within 48 hours
Anonymous Property #2
Priced between $275K and $325K
17 offers within 48 hours
Indeed -- 16 offers on one property, 17 offers on the other. I believe each had 30+ showings in the first two days.
Wow!
A few thoughts...
- It is extraordinary that so many buyers would be interested in a single house and be ready and able to make an offer within 48 hours of viewing the house.
- Quite a few buyers missed out on each of these properties. Even though one buyer was able to secure a contract -- those 15 / 16 other buyers are likely still in a hunt for a new home.
- It is likely safe to assume that the final sales price of these houses was significantly above the asking price.
Again, it is staggering how much unmet buyer demand exists in the market these days.
It's a great time to be a home seller.
It's a rotten time to be a home buyer. :-/
