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Wednesday, February 12, 2014

Postscript for Last Week’s Column on Low Inventory

Last week I reported on how the market has suddenly taken off like never before. I noted that last week’s featured listing was in a neighborhood where 8 of the last 10 sales had gone under contract in 5 days or less, all for full price or higher.

Sure enough, that featured new listing drew 37 agent showings and five offers within 72 hours. The Saturday open house drew at least 30 sets of visitors. One visitor said that there were 20 couples simultaneously in another open house he visited that day.

By Sunday that listing was under contract for $8,000 over listing price, for cash, with a 10-day closing.

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