Below is Zephyr Real Estate’s sales data for the previous week. These are NOT properties that have closed, just listings on which a purchase agreement has been ratified and the property has gone into escrow.
It was another busy week, but the lowest number of multiple offers we’ve had in about 6 weeks. This seems to mesh with my theory that there are still plenty of serious buyers in the market, but the tire-kickers have taken a break. Also to note that while only 16% of sales had multiple offers, 40% sold over asking. So sellers are still pricing low in order to have buyers offer over asking. (And yes, a seller has a right to refuse an offer at asking price… there’s no law against it).
Here’s this week’s numbers, and check back next week to see how they change.
16% of sales received multiple offers
33% of sales sold under the asking price
27% of sales sold at the asking price
40% of sales sold over the asking price