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John McClintock Team

Bidding Wars See January Jump

Buyer competition was unseasonably hot in January. Many house hunters continued to face bidding wars as housing inventories dropped to all-time lows.

The National Association of Realtors reported the fewest number of homes for sale on record in January. Nearly 80% of homes on the market sold in under a month.

In a four-week period ending mid February, more than half of homes that were under contract had an accepted offer within their first two weeks after being offered for sale.

Townhomes appeared more competitive than other property types. Nearly three-quarters of offers on townhomes saw competition in January.

Source: National Association of Realtors, Realtor Magazine.

Are you considering selling and/or purchasing a home across Bucks, Montgomery, Delaware, Mercer, Burlington or Phialdelphia? More than ever, you need expert, professional representation. Before you consider purchasing a home or list your home for sale, call The John McClintock Team at 267‑759‑9518 for no obligation recommendations on dealing with bids, realistic prices and precise timing.

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Information is deemed reliable but not guaranteed.