In May 2017 it was noticed by many of us in the business that listings that we were holding offers on listings were only getting 1 or 2 offers instead of the 10-20 offers we were seeing a month prior. Sometimes no offers were coming in at all right away. What happen???? Sellers were asking why they are not getting $100,000 over asking like their neighbour did?
A few reasons why.
- Sellers were not getting the $100000 over asking because they were now asking $100,000 more then they would have asked last year
- Buyers are growing tired of the multiable offer situation and refuse to participate
- The number one reason: INVENTORY!