AND-the competition is TOUGH. There are bidding wars – even in the higher end markets. If a house is in good condition, priced competitively EXPECT to pay full price.
What is “GOOD CONDITION?”
Sellers are still paying closing costs-only if they have to though. If they have two offers, they may pay a portion of it or none at all. But, typically sellers pay about 3%.
So, what are the real estate market trends? Locally median sale prices are up 1.72% over last year. Inventory is hovering right around 7 months, which is fantastic. We are almost back to normal! Yipppeee!!
Prices in most of the United States are up too. There are only a couple of states in the red.
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