The market has gradually been getting busier and busier but it seems like last week it suddenly hit in full bloom! A good example is my new listing in South Minneapolis that hit the market at the end of the day on Friday. It had 14 showings on Saturday and 9 more on Sunday in addition to my open house, which had 30-40 groups of people through!
Several buyers at the open house said they had already lost out on several multiple bid offers and opined how difficult it is to have to make a decision on something as important as buying a house so quickly! Sadly, that is the state of the current real estate market with such a shortage of homes available for sale and so many eager buyers.
One of my lenders and I were laughing that while we were talking on the phone several other calls came in and as I was answering those calls more calls came in perpetuating the cycle.
If you are just getting into the buying market, get ready! The list of homes I showed to a buyer on Friday dwindled as we got notices that properties were sold, even as we were on the road.
I got a call this morning from a new buyer who found a house yesterday she was interested in but thought she should look at some more properties for comparison before making an offer (smart move!). We are going out tomorrow evening… I wonder if the house she liked will still be available?!
Sharlene Hensrud, RE/MAX Results - Twin Cities Buyer's Agent