My name is Frank DiMattina, as a licensed Realtor, I have experienced my buyer/client offers way over asking price. Now there have been times when the right property goes over asking, however in this market when homes are priced right it seems that all properties are going over asking price. Another factor of this hot real estate market is that the low interest rates are still in effect.
Due to the low inventory it created a sellers market. Homes are selling faster than usual. The days on the market until sale has dropped 6.6%. One year change in inventory has dropped 28.3%. As you can see from the statistics, homes in this market sell quicker and the inventory in this market is lower than usual. Because of this buyers are coming in strong with the highest and best offers. Most are offering over asking price to have a greater possibility of purchasing the right home. As a seller this is a great opportunity if you’re thinking about when is the right time to sell, it’s now! Pricing your home right is also a key strategy to selling your home quicker and for top dollar. When homes are priced accordingly it brings more attention to potential buyers. This will increase showings and produce high offers, potentially offers over asking price.
As interest rates are still low buyers are still taking advantage. Since rates are historically low most buyers are putting in their strongest offers. As our economy is opening up rates will slowly start to increase. If you’re thinking about when to sell, I can assure you now is the time. For a free no obligation evaluation on your home feel free to contact us at Casandra Properties. I’d love to discuss the future of your home!!
Written By:
Frank DiMattina
frank@casandraproperties.com
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