Multiple Offers in November?

In the past week, our team has again experienced multiple offers – wait, isn’t the Real Estate market supposed to be slowing down this time of year?  Well, yes and no.  Historically, less homes come on the market in November and December:

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Over the past 3 years we have seen that trend continue.  However, the major difference we have seen this year is that inventory is historically low which can create a build up of pressure for homes that are priced right and well marketed.  When done correctly, buyers will come pouring in to the property and submit their offers because they have less to choose from.  With one of our listings that went on a couple weeks ago, there were 15+ showings set up within the first 12 hours of being on the market and at the open house there were 70+ groups through.  There are still highly qualified and motivated buyers out there.

Historically new listings begin to climb in January and do not slow down until May or June.  New listings will begin flooding the market and consumer options will continue to increase with the available inventory.  Real estate always has had a multitude of variables and factors that tend to overlap in the selling and buying process.  We often talk to our clients about the emotion that is involved as that is very real.  Where are you going to put the Christmas tree or celebrate birthdays and so on.  Our goal as a team is to be that beacon of sound, logical advice to help best guide the decision making process.

We have several clients preparing for next year already and it really makes a lot of sense to have a plan in place to make sure you hit the ground running.  Let us know if we can help in anyway – we are always happy to help!

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