Published March 29, 2021
MARKET REPORT 3.29.2021
If you have been following along with our weekly market reports, you may have noticed that numbers are staying pretty much the same. Week after week since really February we have seen very consistent numbers. Last week we mentioned that this is a tough market for everyone involved and zeroed in on sellers. This week we are talking to you BUYERS. We know this is a challenging market. It's easy to get discouraged and say you'll wait for a better time (insider info: there's never a "perfect" or "better" time). Instead, get prepared, know what market you are getting into, and strategize.
The BRC crew has been working tirelessly for our buyers. Showings, showings, showing and more showings - followed by many offers. So, here is what we know based on our personal experience. For competitive home purchases our agents are writing between 4-8 offers before going mutual. These are offers over asking, including 22AD's, potential waived inspections, 30 days or less closings, and seller rent-back agreements when needed. This means buyers & agents are going on about 10-12 home tours before an offer is accepted. Knowing this information, is why we keep stressing the need to be patient and prepared. You will find a home; it just takes time and a lot of strategy right now.
Do you have questions on what that means for you? Or, how to come up with a winning strategy? Send us a message, we would love to chat.
