CALL: 602-295-6807
  Troy Erickson Realtor
  • Home
    • Local Market Analysis >
      • Ahwatukee Foothills Real Estate Market Reports
      • Chandler Real Estate Market Reports
      • Gilbert Real Estate Market Reports
      • Mesa Real Estate Market Reports
      • Phoenix Real Estate Market Reports
      • Scottsdale Real Estate Market Reports
      • Tempe Real Estate Market Reports
      • Arizona MLS Market Reports - Home Sales and Stats
    • Chandler Services and Resources
    • Chandler Top Employers
    • Chandler Interactive Map
    • Ahwatukee Home Page
  • Search For Homes
    • Search All Arizona Homes For Sale (MLS)
    • All Homes For Sale in the East Valley >
      • Chandler Homes For Sale
      • Ahwatukee Homes For Sale
      • Gilbert Homes For Sale
      • Mesa Homes For Sale
      • Phoenix Homes For Sale
      • Scottsdale Homes For Sale
      • Tempe Homes For Sale
    • Chandler Homes For Sale by Price Range >
      • Chandler Homes For Sale Under $400,000
      • Chandler Homes For Sale $400,000-$500,000
      • Chandler Homes For Sale $500,000-$600,000
      • Chandler Homes For Sale $600,000-$700,000
      • Chandler Homes For Sale $700,000-$800,000
      • Chandler Homes For Sale $800,000-$900,000
      • Chandler Homes For Sale $900,000-$1,000,000
      • Chandler Luxury Homes For Sale Over $1,000,000
    • Chandler Homes For Sale by Top Neighborhood >
      • Circle G at Riggs Homested Ranch Homes For Sale
      • Clemente Ranch Homes For Sale
      • Cooper Commons Homes For Sale
      • Dobson Place Homes For Sale
      • Fox Crossing Homes For Sale
      • Fulton Ranch Homes For Sale
      • Knoell East Homes For Sale
      • Layton Lakes Homes For Sale
      • Ocotillo Homes For Sale
      • Old Stone Ranch Homes For Sale
      • Springfield Lakes Homes For Sale
    • Chandler AZ Homes for Sale in Active Adult Communities >
      • Sun Lakes Homes For Sale >
        • More About Sun Lakes Active Adult Community
      • Solera Homes For Sale
      • Springfield Homes For Sale
      • Sunbird Homes For Sale
    • East Valley Homes For Sale by High School and School District >
      • Homes For Sale in the Chandler School District >
        • Basha High School
        • Casteel High School
        • Chandler High School
        • Hamilton High School
        • Perry High School
      • Homes For Sale in the Gilbert School District >
        • Campo Verde High School
        • Desert Ridge High School
        • Gilbert High School
        • Highland High School
        • Mesquite High School
      • Homes For Sale In The Kyrene School District
      • Homes For Sale in the Mesa School District >
        • Dobson High School
        • Mesa High School
        • Mountain View High School
        • Red Mountain High School
        • Skyline High School
        • Westwood High School
      • Homes For Sale in the Phoenix School District >
        • Alhambra High School
        • Betty Fairfax High School
        • Camelback High School
        • Carl Hayden High School
        • Central High School
        • Cesar Chavez High School
        • Maryvale High School
        • North High School
        • South Mountain High School
        • Trevor Browne High School
      • Homes For Sale in the Scottsdale School District >
        • Arcadia High School
        • Chaparral High School
        • Coronado High School
        • Desert Mountain High School
        • Saguaro High School
      • Homes For Sale in the Tempe School District >
        • Corona del Sol High School
        • Desert Vista High School
        • Marcos de Niza High School
        • McClintock High School
        • Mountain Pointe High School
        • Tempe High School
    • Chandler Homes For Sale By Bedrooms >
      • Chandler 2 Bedroom Homes For Sale
      • Chandler 3 Bedroom Homes For Sale
      • Chandler 4 Bedroom Homes For Sale
      • Chandler 5+ Bedroom Homes For Sale
    • Chandler Homes For Sale Zip Code >
      • Chandler Homes in Zip Code 85224
      • Chandler Homes in Zip Code 85225
      • Homes for sale in 85226
      • Chandler Homes in Zip Code 85248
      • Chandler Homes in Zip Code 85249
      • Chandler Homes in Zip Code 85286
    • Chandler Homes For Sale by Lifestyle >
      • Chandler Homes For Sale With A Pool
      • Chandler AZ Horse Properties
      • Chandler AZ Homes for Sale in Golf Course Communities
      • Chandler Lake Communities >
        • Chandler Waterfront Homes
      • Chandler Basement Homes
      • Chandler Gated Community Homes
      • Chandler Luxury Homes $1,000,000+
      • Single Story Chandler Homes For Sale
      • Chandler Homes For Sale on Half Acre or More
      • Pre-foreclosures, Short Sales and Bank Owned Properties
      • Chandler Condos and Townhomes For Sale
    • Our Featured Homes For Sale
  • Buyers
    • Home Buyer Cash Back Program
    • Home Exchange Program
    • The Home Buying Process >
      • Buying My First Home
      • Home Buying 101 Videos
      • 18 Key Documents You'll Need to Buy a House
      • 10 Mistakes to Avoid
      • 15 Things Every Home Buyer Should Know
      • 5 First Time Home Buyer Mistakes To Avoid
      • 9 Great Reasons to Get Pre-Approved For a Home Loan
    • FREE Home Buyers Guide
    • Home Financing and Mortgage Rates >
      • Calculating My Monthly Payment - Calculators
      • The Loan Process
      • Closing Disclosure Forms
      • Closing Costs >
        • What Are Mortgage Points
        • Lower Payments With Discount Points
      • What is a FICO Score?
      • 6 Steps to Ensure a Smooth Home Purchase
      • Things Not To Do Before Closing
    • Home Buyers Checklist
    • Moving to Chandler? >
      • FREE Chandler Relocation Guide
      • Chandler City Info
      • Chandler Schools in the Chandler School District >
        • Chandler School District and Boundary Maps
        • Kyrene School District and Boundary Maps
        • Tempe School District and Boundary Maps
    • Title and Escrow >
      • Ways to Hold Title in Arizona
      • The Escrow Process
      • Explanation of Title Commitment
      • Closing My Escrow in Arizona
      • After My Home In Arizona Closes
    • Home Inspection >
      • Top 10 Defects Found During a Home Inspection
    • Benefits of Home Ownership >
      • Tax Benefits of Owning a Home
    • Additional buyer Info and Forms
    • Q & A
  • Sellers
    • Home Seller Guaranteed Savings Program
    • Home Exchange Program
    • The Home Selling Process >
      • 18 Steps to Selling My Home
      • 6 Tips to Selling Your Home
      • Enhancing Curb Appeal
      • 15 Home Listing Tips
      • The Worst Home Selling Mistake a Homeowner Can Make
      • 8 Most Frequently Asked Seller Questions
    • We Sell Homes
    • FREE Home Sellers Guide
    • How Much is My Home Worth?
    • What Are Homes Selling For In My Neighborhood?
    • Closing Costs
    • Short Sale Info
    • Absorption Rate
    • Home Warranty
    • Selling My Home "For Sale By Owner"
    • Additional Seller Info and Listing Forms
  • Contact Us
    • Client Testimonials
    • About Us >
      • Why work with Troy and Mia?
    • Awards
    • Team of Experts
    • Role of the Realtor >
      • It May Pay to Work With A Realtor
  • East Valley Real Estate Blog
  • Chandler Area Schools
    • Chandler School District and Boundary Maps
    • Kyrene School District and Boundary Map
    • Tempe School District and Boundary Map
  • Chandler City Map
  • Glossary of Real Estate Terms
  • Real Estate News
  • Things To Do In Arizona
  • Home Swap Program - KNOCK
Chandler and East Valley Real Estate Blog - Troy Erickson Realtor

Bidding Wars Abound… How Long Will They Continue?

2/20/2018

1 Comment

 

Bidding Wars Abound… How Long Will They Continue?

Low inventory of homes is causing a bidding war | Troy Erickson Realtor
Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.

In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner.

CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes sold for at least list price.

                 “The share selling above list price was almost three times the trough in January 2008 and
                  represented more than one-fifth of total sales.”


Many markets in the western part of the country and around major cities are experiencing higher shares of homes selling above list price.

                 “San Francisco had the largest share of homes — 76 percent — that sold for at least the list price, and
                  Seattle and Los Angeles followed with 63 and 51 percent, respectively. Miami had the lowest share,
                  16 percent, of homes selling at or above the list price.”


Increased demand during the spring and summer months, the traditionally busier seasons for real estate, will no doubt influence how many homes continue to sell over list price.

This should not be seen by sellers as permission to overprice their homes, though. Buyers are becoming more and more educated, especially those who have been searching for their dream homes for a while now while waiting for new inventory to come to market.

Realtor.com gives this advice:
​

                 “Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed,
                  so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly under priced,
                  especially in areas with low inventory.”
Bottom Line

Without a large wave of new listings coming to market, buyers will continue competing with each other for the homes that are available.

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price. Meet with me today, and I can explain to you exactly what’s going on in your local area!

​If you have any questions about how to list and sell your home for top dollar, just call/text me at 602-295-6807 and I can help answer all of your questions!

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Troy Erickson Realtor
Call/Text: 602-295-6807
TroyEricksonRealtor@gmail.com

Linkedin Profile
Facebook Page

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
1 Comment
Marina link
7/19/2021 01:33:49 pm

this is a very interesting situation when there is more demand for housing than houses. in fact, it is very rare.
Very often in many countries, a completely different situation can be observed. When there are many houses, but no one buys them.

Reply



Leave a Reply.

    Chandler and East Valley Blog: Troy Erickson Realtor

    Picture

    Troy Erickson

     "Real Estate is not just a job for me, it's about making a difference in the lives of others."​

    Troy has been blogging about Chandler and East Valley Real Estate in Arizona since 2006.  He stays current on local Chandler real estate by attending educational classes, and talking with title companies, home inspectors, lenders, members of the Chandler community, as well as constantly working with home buyers, home sellers, and investors within the Chandler and East Valley community.

    HOMES FOR SALE:
    AHWATUKEE
    ​HOMES FOR SALE
    CHANDLER
    ​HOMES FOR SALE
    GILBERT
    HOMES FOR SALE
    MESA
    HOMES FOR SALE
    PHOENIX
    HOMES FOR SALE
    TEMPE
    HOMES FOR SALE
    OUR FEATURED HOMES FOR SALE

    Categories

    All
    COVID 19 Coronavirus
    Featured Homes For Sale
    First Time Home Buyer
    Home Buying
    Home Mortgage
    Home Selling
    Local Events
    Market Reports Ahwatukee
    Market Reports Chandler AZ
    Market Reports Gilbert AZ
    Market Reports Mesa AZ
    Market Reports Phoenix AZ
    Market Reports Scottsdale
    Market Reports Tempe AZ
    Realtor Advice
    Why Hire Troy Erickson Realtor


    Archives

    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    March 2018
    February 2018
    January 2018
    September 2017
    July 2017
    April 2017
    March 2017
    February 2017
    September 2016
    August 2016
    January 2014
    May 2013


      Contact Me:

    Submit
    View my profile on LinkedIn

    RSS Feed


    Best Chandler Realtor - Troy Erickson Realtor
Powered by Create your own unique website with customizable templates.
Powered by Create your own unique website with customizable templates.


For more information – Contact Troy at (602) 295-6807, or TroyEricksonRealtor@gmail.com today.
Chandler Arizona Real Estate Search

Troy and Mia are your Chandler Arizona Real Estate Connection - an experienced team with Diverse Solutions Realty. Troy is a licensed Realtor in the state of Arizona.
See more at: ChandlerRealEstate.weebly.com