In 2017, Multiple Offers Scored Sellers Thousands

Galtero Lara
Enero 13, 2018

According to online real estate company Zillow, 39.5 percent of all Denver homes previous year sold above the original asking price.

If interested in buying a home in Washington, D.C., you may have to beat your competitors by offering more money than a home may be asking (or worth). Low interest rates have buoyed buyers' budgets, raising the limits on what they can afford - and may be willing - to pay. The typical US home sold in 80 days, while the typical buyer spent more than four months shopping for their next home.

The average gain for sellers? Fierce competition means buyers may not win a home on their first offer. The typical buyer spends more than four months home shopping and has to make multiple offers before an offer is accepted, according to the 2017 Zillow Group Consumer Housing Trends Report. "We don't expect this inventory crunch to ease meaningfully in 2018, meaning buyers will be facing numerous same struggles this year".

Zillow_List_Price
In 2017, Multiple Offers Scored Sellers Thousands

Leading the nation was San Jose, Calif., where 68.5 percent of homes sold above list price.

In San Jose, Calif., San Francisco, Salt Lake City and Seattle, more than half of all homes sold a year ago went for above the list price. That's up from just 17.9 percent of all homes selling above list price in 2012. "In the booming tech capitals of the California Bay Area and Pacific Northwest, paying above list price is now the norm". The median amount paid over the list price in Denver was 2.9 percent, or $10,000, said Zillow.

Only homes in Miami, Virginia Beach and New Orleans were the least likely to sell over asking price in 2017.

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