This past March we saw an increase in the number of listings SOLD over the last two years. Not only that, but prices are 23% higher for the first 3 months of 2021 over the same period of 2020 (pre-pandemic levels). We are now running about 105% over asking price (Jan – Mar 2020 = 99%) and 40% of all sellers received $50k or more above asking.
There may be change on the horizon and April numbers may bring light to it. At this time most Sellers are holding an offer presentation 5 – 7 days after the home is listed and typically getting many offers. It appears the numbers of offers are dropping, as well as some Sellers not receiving any offers which is opening up opportunities for some Buyers. This is welcomed news.
There are Seller’s wanting to cash in right now but this is certainly a larger discussion about where you want to go and what your long term plans may be. It is advisable to also include your financial advisor into this discussion if this is going to be part of a larger retirement plan.