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In my area, I am seeing many houses are reducing asking prices. Seems like people listed with pie in the sky asking prices and are dropping their ask. Some houses are closing after one or two price drops since summer. What are you seeing?
Definitely not in our region of North Carolina. Less inventory here than there are folks trying to buy.
When we bought 1.5 years ago in Charlotte NC properties sold superfast at list price (under a week), which is what we paid. Covid did not change list prices, demand does that, but inventory is down in the area we bought, I don't keep up with the entire Charlotte metro as a non-realtor. It's been a hot market for years.
Zillow says our home appreciated 10% in 1.5 years.
I have noticed that realtors here price for quick sale, they do not bump the price up. They wanna MOVE the property get their commission and get the next listing.
Prices are up and inventory is extremely low. Nothing for sale in my neighborhood currently. Couple sales in Fall at full ask that sold the day they were listed.
We own two homes in Florida; both have SOARED in value this past year. Very low inventory and HUGE demand. Honestly I was shocked - I thought sure Covid would make prices fall....
I received an offer that was over 30K more than what I asked for (and I thought I was pricing fair, not low). Whether my house can actually appraise for the amount that was offered is a different story, but one can only hope!
Sucker prices dropping by even larger jumps in my area.
2 examples I noticed this week.
Listed
Jan 21st $549k
Jan 29th $510k (-7%)
Another closed this week.
July 20th $565k
July 30th $515k
Oct 20th $499k
Jan 28th $480k SOLD (-15% first listing)
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