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Remember the early part of 2017? Here we go again. Take a look at this thread. 1/
It's also evident in the frequency of places selling for 20% or more over asking, as agents under-list to get lots of offers. I saw three houses on the weekend, and they wound up with 19, 12, and 8 offers. /2
I think with rapidly rising prices some agents are thinking they don't want to sell the place short so are just sitting back and letting the marking fight it out in determining the price. /3
Was talking to agent today and we're all busy. Because it takes time to show your clients these places and prepare offers on these places you have a small chance of winning (like 95% chance you're going home empty-handed on that 19 offers place). /4
Though in condos it's a different scene. A lot of the stuff selling is just clearing out inventory left over from last year, and not battles on fresh stuff. That said 26% of sales last week were over asking. /5
