Tell me all about how it's a sellers' market

[mrs.jacinthe]

Well, it's obviously different out here, but our housing market has heated up again to the point they called it a "boom" last night on the news.

[SusanBAnthony]

Ours is good, if your house isn't weird and you price it right. Anything decent goes fast.

Mpls is crazy again unfortunately for us, since we sold our house there 6 months ago.

[turtledove1]

The market here is pretty good too.  We had our house on the market for 11 days and had 9 showings & 2 offers during that time.  It is a stressful process, but it WILL be ok.  Best of luck to you as you put your home on the market!

[sailorgray]

I am actually afraid of selling our place too quickly and not finding a new place bc inventory is so low and nothing is on th market long.

[Deleted]

This seem to be selling pretty fast even in Metro-Detroit which was one of the worst housing markets when things went bad. I know several people who are getting outbid on houses they are putting full asking price offers in on. I think things are really turning around and it a place like Chicago I don't think you will have a problem at all.

[womet]

Atlanta's market took a nose dive but seems to be rebounding now. Houses in our neighborhood are just now listing for more than we paid for our house 3.5 years ago.

[turtledove1]

May 2, 2013 19:50:01 GMT -5 sailorgray said:

I am actually afraid of selling our place too quickly and not finding a new place bc inventory is so low and nothing is on th market long.

This was our concern too.  We actually found our new home, went under contract with a contingency of selling our home, before we even listed our house.

[wawa]

Everything in my neighborhood has been flying off the market. Two houses on my street went up for sale in the past 2 months, one if already sold, the other just put an under contract sign on the front yard. And the second one was pretty overpriced IMO.

[OG Jo]

We would LOVE to move and sell our house, but the inventory here is so low and everything is moving so quickly that I fear we'd be homeless. Since we don't HAVE to move/sell... we're staying put for now.

[salliekate]

I agree that everything here is going quickly if it isn't strange or seriously overpriced. We are going to price ours a little high because I think it might go fast and we don't have another house lined up yet. We may end up having to live with the in-laws if nothing hits the market in our range that we like.

[alf17]

In my neighborhood, the houses are selling fast.. in days....sometimes hours. I don't believe there is a house for sale in this neighborhood of 350 houses. The prices are up also.

[ering1115]

The DC area is insane. Houses are going in days, offers w no contingencies, and BIG escalation clauses. Buyers market my ass. I am happy we locked in the place we did.

[downtoearth]

My friend sold a condo in Chicago area (suburb) in less than 30-days on the market last year...at a slower time.

[candreco]

May 2, 2013 19:50:01 GMT -5 sailorgray said:

I am actually afraid of selling our place too quickly and not finding a new place bc inventory is so low and nothing is on th market long.

This is where we were last year, we had full-list price offers on our old house the day it went on the market, and hadn't even started really looking yet.  We ended up in a bit of a bidding war for one house, lost it, and offered on the house we did buy at full price the day after it went on the market.  We had expected selling and buying to take most of the summer, and from listing our old house to closing on the new one was only about 45 days.  It was nuts, and low inventory was definitely making it a sellers' market.

[MrsAxilla]

Very low inventory here. Sellers are hosting all night open houses and theyre going under contract in 24 hours.

[sillygoosegirl]

Most things are selling quickly around here (unless they are short sales, in which case they are still under contract quickly), but only things that are appropriately priced, and prices, while rising a bit now, are still pretty low. There are some properties still sitting for ages because the seller refuses to set an appropriate price... Just a lot fewer of them than in recent years.

[AAM2012]

Florida here, investors are buying non stop. Friend had a cash offer at the asking price on his home within 3 hours (!!!) of putting his house in the market. No inspection or appraisal needed.

He then had a problem buying a new home because investors kept coming in with cash bids.