We seem to have a changed market nowadays - as of the first weekend in January, I felt the shift in Fairfield County in CT. I had "desperate" buyers, and very few sellers ready to list. Open Houses were jammed, and offers were flying!
Do you have tons of listings or tons of buyers?
Do you remember the days when sellers had to beg you to find a buyer for them? And you had to give up everything but the kitchen sink in concessions to keep them interested?
In early January, my buyer decided on a cute little ranch in Stamford, CT - offered, negotiated, and got an accepted offer. We lined up inspections, and got a new call from the listing agent that same evening.
"I have an offer that is very qualified for over full price on the house. Do you want to match it?"
They matched it, and found the sellers not quite as eager to negotiate on items as before.
The market had changed. I found the same thing happen to my listing of a home for sale in Wilton, CT that very same evening. The sellers asked the folks who had already done inspections and were about to go to contracts for a much much larger increase due to a new much more qualified offer. They did come up in price. (Interesting, as a few days before they hadn't been able to come up a single dollar...)
So, are homes for sale in high demand? Is this a case of "supply and demand?" As the supplies have dwindled, the prices are going up, just because demand then is naturally up in proportion.Are sellers aware? Are sellers quickly placing their homes for sale on the market to take advantage of these eager and hungry buyers?
Are buyers aware that their negotiating powers of last fall have dwindled with the inventory?
Most importantly, will this last through this spring, or ..... as the March - May "pretty weather" sellers bring their houses on, will there be a glut once again?
It will be interesting to watch and follow.