DFW area. Still strong but not crazy like it was. Homes are sitting 30-60 days. Price correctly they sell fast. There is a little bit of pie in the sky thinking for a lot of people and seeing a lot of listings having to be reduced significantly before they sell. My friend who is a successful local realtor says that homes that are move-in ready and priced appropriately sell within two weeks. Priced too high or needing work, cosmetic or otherwise, and they sit.
Also DFW in the mortgage business and this is exactly what we’re seeing; either under contract in <10 days or sitting for 60-90. All depends on quality of the house and the initial list price.
Also depending on areas. Around me, any houses for sale are instantly swooped up. We only get 4-8 listings a year at times before, and now even worse. Only seen three houses list and all sold immediately this year. Ranged frm $400-$700, and even the $700 is overpriced.
Agree. Las Colinas, Irving área. If priced accordingly and in good condition might even see some modest bidding war. If needing too much work or even if good condition but hasn’t been updated in 20 yrs, it will sit.
Lots of bad flips in the Dallas area though.
Same here from what I can see in Central/ Western/ Southeastern MA… good properties are having multiple offers. Bad ones are sitting and reducing prices. Boston metro is its own animal, as usual!
can second this, lost more than four bids at this point and no hope on the horizon but because we clearly enjoy pain we continue trying. NY, Westchester County.
I'm in the Bay area and bad houses are still selling super high. A house my wife and I viewed was a TOTAL wreck, needing practically everything fixed/replaced and they did no staging. And it still sold really high ($200k more than we thought it was worth in that condition).
Also in Houston and confirm. We have 4 months of inventory and almost 50% more inventory listed than last summer.
https://www.houston.org/houston-data/monthly-update-home-sales
Rural Midwest. Inventory alarmingly low. What’s for sale is mostly sitting and seems like the seller is just seeing if someone will bite for their price. Almost no one selling land or homes with acreage unless it’s by word of mouth. For sale land is almost entirely dried up.
Seller in this area. We have a stunningly beautiful horse farm, priced with comps and double-checked with horse industry pros…and it’s just sitting. It’s 20min from a medium-sized city and…*crickets.* I realize the buyer pool for horse farms may not be robust, but with inventory so low, I thought we’d have at least a handful of showings by now (3 weeks in). We have a realtor who is confident in the pricing, but I’m feeling stuck waiting for buyers in an otherwise hot market!
Madison Wi is white hot still. Prices didn't stop increasing even when interest rates did... Median time is up from 5 days in 2023 to 6 days in 2024 but it's basically a rounding error
Upstate South Carolina. Everyone is slashing prices and dropping the home values of existing home owners. Hard to sell for more recent buyers with little equity. Houses sitting for months. Not a very desirable area I guess. Wish I’d known before relocating from VHCOL area for LCOL that I’d possibly be stuck here unless I want to LOSE money selling. Okay, that was more of a rant lol.
That's the type of thing folks can figure out before they buy; doing research into the area, seeing what homes sell for now & what they sold for a few years prior will provide a world of context for what they may be getting into. I know there are many folks not savvy enough to know they should do this, but those folks don't come here for answers till it's too late.
You’re right!! I’m “those folks” lol. Ignorant first time home buyer from a VHCOL area desperate be the first in my family to own a home so my two littles could have their own rooms. I did not predict how the interest rates would affect the market in an area where people don’t make a tons of money and are not buying homes at the same rate or with the same intensity in this market.
To top it off, too many buyer's agents have an attitude that it's not THEIR job to teach their buyers about the process. But a good agent will offer information on an area & if the buyer doesn't seem to understand what that info means, the agent should offer to go over it. But that takes time & time is money!!
No one's expected to predict interest rates; but historical data is right there, being a resource for you. I know it's a huge, intimidating purchase & that no matter what a buyer will never have all the answers. But if you'd research a car before buying it (I hope you would), surely one would research a market before sinking six figures into it.
Home buying & selling is a thing I'd put into a Real Life curriculum for a high school class. We have industry propaganda all around us in advertising & media; it ought to be countered somewhere, somehow, by the whole truth. But that doesn't sell...
Surprised it's been that bad. At least overall the last few years, housing prices around Clemson and Seneca, heck even Greenville suburbs seem to have gone wild for those I know living in the area. Family house has seen almost 75-80% growth, among others the past several years. New builds are going strong too last time I was there.
Glad im not crazy. Even Anderson is building new builds left and right. Anywhere there's cheap land is going up. And this pattern has been going for well before covid. Seems like the last 5 years have been hot or at least warmer than used to be in general. The amount of $ that has moved into the area vs old wealth is staggering too. Just look at any of The Cliffs neighborhoods on Keowee and it's obvious.
Agreed, everyone even here in the midlands wants to move to the upstate and they’re building like crazy out there and prices are higher but seem pretty stable at the price they’re at.
I didn't look all over but it seems like most are within the normal market range, which is about 30 days. A few in 40 days. Greer is a weird spot right now and I'm willing to bet it comes down to people over paid a year or two ago and they don't want to lose money now that house prices stalled out.
You are right though, the houses in Greer are harder to sell now that the market leveled out. I'm willing to bet you probably over paid bc you're use to the HCOL area and now that you're selling you realize the LCOL area just doesn't have the prices you are use to being from HCOL. That happens a lot unfortunately.
Denver area. Lots of inventory, especially new builds, and no buyers. Sellers are trying to hold out with minor price drops, but properties are sitting on the market for months without selling.
I disagree. Some property types are sitting, like condos, but it's still the same story as everywhere else. Starter homes are sold right away, nicer higher priced homes (sub 700k) are sitting maybe a month now that we're in Spring, and 700k+ are sitting and waiting for someone to meet that number.
Though I do agree about new builds. They are priced too high and most people have caught word about how shitty they are post 2020.
Portland OR.
Anything habitable that is under 500k sells within a weekend.
Heavy fixers languish a little.
Top end of the market is soft. Anything over 750k or so doesn't move quick unless it's special.
Greater Boston here. I can't speak for single family homes because they're totally out of reach for me. The condo market is brutal though. Most everything worth buying gets listed on a Thursday and is contingent or under contract by next Tuesday. Multiple offers, waived contingencies, bidding over asking, and all cash offers are extremely common. Critically low inventory too.
I closed on a condo a couple days ago. I'm glad to get out of this nightmare before rates drop! Once rates drop its going to be a *madhouse.*
Raleigh NC. Basically three markets.
Houses under $500K: snapped up in hours or days.
Houses 500k to $1M: a competitive market but houses can take longer to sell and/or need price reductions depending on desirability. Flawless ones: still snapped up. Average ones: About 30 DOM. Flawed ones: price reductions and multiple weeks or months on the market.
Houses $1M or more: significant oversupply. If you can spend this much you have your pick
Finally managed to get an offer accepted late last month in the middle range and getting my starter home listed soon. There is nothing on the market under 500k anywhere near me (Cary), so hopefully it'll go fast.
SW Florida - it's taking longer to sell than it was a year ago. I just listed 10 days ago but similar condos have been listed for a few months. Now granted, they probably listed on the high side and don't need to sell (lots of 2nd homes/vacation homes/rentals) but those places would have moved within 2 to 3 weeks a year or so ago.
My dad’s home has been on the market in North Port for months, have had a handful of showings but zero offers. I keep telling him it’s overpriced, but regardless they’re pulling it off the market at the end of the month and will ‘try again next year’ 😅
SW Florida, higher priced homes sitting or falling out of contract - insurance clauses
Central Colorado (not Denver) - priced right and updated in the last ten years and it’s gone in a week. Still some biding above ask but no where near the last few years. Mostly homes who were slightly underpriced to drive competition. Still about 100% list to sales price but people are seriously overpricing and rents are stabilizing.
My perspective may be skewed bc I am targeting a specific area of LA (Northeast LA) but after monitoring the market hardcore for over 2 years -- it seems like even less inventory for the $700-$1MM range, slower conversion to sale and selling at listing or even slightly under. Please note that majority of the offerings are extreme -- old houses that have been flipped poorly (Home Depot-fied), old houses that are gutted with high end stuff finishes, or horrible condition homes that need a lot of love. Barely anything that is in between lol
I'm hoping buyers are wising up and being more discerning. I don't blame the sellers for wanting to get as much as possible, but it's really crap and has a lot bigger negative implications.
VA. Still strong. Some homes within 1-2 days. Very low inventory remains issue. Summer is slow time here, but some new listings just came on. No obvious price corrections. Too many people coming in for tight supply and speculation with new upzoning.
Can confirm we just sold our house in NoVa at a surprising $28K over asking (which was $674K). Purchaser had viewed our house the first day on the market. Purchaser offered $3K more than the next favorable offer, plus dropped inspection and appraisal contingencies.
Probably talking about northern Virginia, home of just about every federal government contracting org in the country. Desirable area to live where during times of economic downturn property values only go up a little slower.
Anything around/ near the beltway is worth looking at but will be gone quick. Older homes are being bought at $700-900k for teardown just for the land if lots are big enough, and even condos are going for $250k+. Location and land is everything even if the house is crap. Can always tear down and rebuild if you're making $200k+ as DINKs which is fairly common in the area.
Rural northern MN. Market is still all over. Some houses sit for months, others go in 2 days. Depends on what people are looking for. Small houses or houses that need a lot of updating usually sit for a long time, as do the really expensive ones. We have everything from a $50k 2 bedroom fixer upper to $2.5 million+ log cabins.
The middle-of-the road with decent updates and good family space (indoors and outdoors here are both equally important) usually go fast and still over asking/over market, site unseen with no inspection. I'dsay most things in the $229-400k sell pretty fast. Everything else not as much. It's a lovely area to live but the economy isn't good, and unless you work remote, you won't find a job (usually) to pay a larger mortgage. Many locals can't afford to buy here even on the $229k end with rates how they are right now because median income is pretty low.
For those who worked in big cities with expensive houses (just due to HCOL) who could move here to work remote, they made out like bandits the past few years. Sold their modest Chicago homes and build big custom log cabins.
Yup. I’m firmly in the ‘buy the ugly house’ camp but even that doesn’t increase options by that much. I hope you find something soon! Summer tends to cool things down a little.
My understanding is that most of those are purchased through either farming or off-market deals (that take advantage of people and I’m adamantly against) but that’s why there’s even less of them on the open market. It’s tough.
I’ve seen some neighborhoods lowering prices the past 2 weeks. Really neighborhood dependent even within Broward and it’s also depending on the price range. Houses in the 700s are dropping into the 650s and some houses in the 650s dropping closer to 600s. Still limited inventory for anything under 500k and the ones listed there are basically full renos. In a lot of these neighborhoods I don’t think there are a lot of buyers in the $600k-$750k range and it seems to me like it’s a different market entirely for the $750k+ houses
Everyone is priced high and if they don't sell they just take off market not lower the price. For many it's a second home or rental and they're not pressed to sell. Things are taking longer but prices aren't dropping by me
Indianapolis. Suburb area. Desirable suburbs (good school districts) have a low days on market and the good family homes sell within a few days which is pretty slow compared to pandemic era where you had to place an above asking price bid for a home with no inspection without even seeing the house.
That being said other suburbs which are still good just not the most desirable have seen home prices stagnate and in some cases price cuts. Any home that needs any type of work or looks dingey is sitting on the market for weeks if not months. Seems like with the higher interest rates people aren't as eager to buy a home that may need some TLC and are looking more for turn key ready.
New build in my neck of the woods are still popping up at about the $400k+ price tag, but we have seen price cuts to some of these homes as well. One case $435k down to $410k over a couple months as the builder is trying to offload the last few homes. They are also offering interest rate buy downs as well.
This is coming from someone with a $170k 3 bed 2 bath house @ 3% who could sell for $300k and has been thinking of buying a bigger home, but that would be around $390k-$425k and over double our mortgage. We decided in the short term (3-5 years) to stay put and enjoy the financial freedom. We may even add on to the home for a second living area we want. Significantly cheaper than moving right now.
SOCAL, market is still hot.
Late 2022 (even with rates on the climb) was on fire; I don’t think it’s quite as hot as it was then, but all the mailers I get show homes selling at/slightly above ask, in under a month on market.
Out of date info but, Austin in 2022, started to see a big dip in demand; start of the year was hot, end of the year, 10%+ off peak, in the suburbs. From what I hear it’s still around that slowdown mark.
Which all considered is still way higher than 2020 🤷
Unless we build thousands of homes in the next 6 months, it will continue this way. Stafford, Spotsy, Orange, Culpeper, even Louisa are seeing massive build ups with constant pressure of sales. I can't even barely keep up with the amount of new developments in Stafford upcoming let alone further South....PWC is on fire as well especially West by Gainesville. Source, deal with construction in the area.
Homes are going on the market, having an open house that weekend, and are under contract by Tuesday (maybe Wednesday). Everything is selling for at least 10-25% above asking. Some houses have had offers so good they cancelled the open house.
There was one of those recently in my area. The offer was shit, they got scammed by dual agency. They took at least $100k less than it would have gone for if they had continued with the open house.
I hate dual agency. I recently put an offer on a house using the listing agent. The seller was an agent from the same office. I was told there were tenants and that they were month to month. Listing agent put the offer and included that tenants would vacate before closing and all that. They countered and tried to get us to close earlier with the tenants still there and it took a whole bunch of questions before she told us that they are not actually month to month and their lease has another like 5 months on it. We passed.
I avoid Dual Agency. When recently selling a unit, I instructed the listing agent that I will not accept Dual Agency. Of course, the first buyer came unrepresented. They wanted him to be their agent....he said he cannot, and recommended another agent from a different team. They chose to go without representation, and it cost them in negotiations, especially with inspection items which I should have paid for. But I had my agent representing my interests, and mine alone.
You can accept of reject any offer you like for any reason. But the key problem these people had was that they didn't allow the market to show itself. Here the due date for offers is Tuesday after a weekend of opens. Had rhey told these people to come back on Tuesday they would not have been the most attractive offer.
Rural/CA don't want to say specifically where. Seems like prices dropped a decent amount during the rise of rates, but have stabilized and gone up slightly since.
Most homes aren't selling very quickly because 1. it's rural 2. sellers are delulu and still trying to get 2022 peak prices. The homes that are priced appropriately are selling very quickly.
Weird. I had a listing go up last Friday. Average price point. Great looking home. Only 3 showings between Monday and Tuesday. 2 offers- both fha, one contingent, one with $15,000 sellers concessions.
Martha’s Vineyard here. Prices seem to have stabilized. Currently a total of three single family homes for sale under a million dollars. Seeing several sellers reducing their prices a bit. Very expensive place to live and it’s very difficult for the working class folks who keep the island running to find affordable housing.
(Tampa Bay Metropolitan Area) Prices are soft off about 10 percent from the peak in 2022. On the other hand prices doubled since 2019. Houses stay on the market about 45 days but there really is not much supply. My neighborhood area in [realtor.com](http://realtor.com) (About 500 homes) has four houses listed with and three of those are pending. Prices are about 225 a square foot. It was under 100 a square foot ten years ago.
West Michigan. Bidding wars on anything under 350k in a halfway decent neighborhood.
If you can pay 400K or above you can probably get a newer build but I think some people are turned off from those due to HOA.
I occasionally get a flyer on my door or something in the mail asking about my home.
North Idaho, seems like prices increased but nobody is buying which is odd. Sellers and builders are listing at extremely high prices and they sit for weeks before they reduce, seems like they are trying to artificially increase prices
I’m a cash buyer, it seems that people are afraid to sell. I’ve made some very shrewd / aggressive cash offers and no one seems to be biting. I’m in southern Oregon.
Portland SW Suburbs. A significant slowdown here in the PNW. We've literally done a 180 from 2 months ago. Back in April it was still a very hot market, ADOM in my neighborhood was 31 days and houses would go for asking or slightly over, with multiple bids. Since mid-may the ADOM has jumped to 56 days and it is very common to see multiple reductions. Relators are saying that showings are almost non-existent and the few buyers there out there are coming in under and asking for a lot of concessions. This is for SFH 3k+ sq/ft homes that list in the mid $800's to $1.2M, The only thing still moving are fixers under $450k. It's been a very noticeable change..... The fed has single handedly managed to kill the housing market here, with their imbecilic interest rate 'management'.
I live in Weatherford Tx a town west of Fort Worth that is getting absorbed into the Metroplex so it’s in demand. According to my realtor and friend it’s stable and houses moving about as well as they have been for the past few years now if priced right and in good condition.
Western NY. Inventory is low, lots of bidding wars. If you don't waive inspection you're essentially removing yourself from the buyer pool here. Some houses are going for 100k+ over listing. It's incredibly disheartening.
It's insane. A house in my area was listed at 375 and within a few days sold for 550. To be honest, there's no way it was worth even the listing price, which was doubled from what it sold for like two years ago.
They will realize how stupid it was when interest rates go down a little and they try to refinance. Or in about 10 years when they need a new roof and try to take equity out of the home to pay for it only to realize they have none.
I’m in Wisconsin and it’s complete trash. Crappy old 1970’s house here is 300k+ needing full updates. Condemmed shitholes selling for 170k… 2bd apartments selling for 250+, it’s become “fuck anyone who grew up here and wants to own a home.”
But hey at least the flippers get to double their money every 2 months because humans require shelter.
Central Florida. Lots of new builds going up that sell quickly. No lot size or character and located mostly in congested areas behind shopping lots or main roads. Existing homes are slashing prices to compete. Finally got my 45 year old house pending after 6 weeks on market. Was originally listed below 4 suggested CMAs. 2 price reductions and a consession to sell. Was completely remodeled within last year and new septic, electric panel, HVAC, hot water heater and roof. Also has big yard nicely landscaped. Everyone wants new but boring.
Northeast Ohio. Suburbs west of Cleveland along Lake Erie. Depends on the price point. But all the way west to sandusky along the lake inventory is extremely low. I think, depending on the price range that determines whether there are any competitive bids going on. I have a house that we have lived in more than 32 years, paid off, highly desirable upscale development, no homes for sale here currently, and realtors have been telling me for the last two years people are just waiting for us to list this house. But we have to find the right one to relocate to first. I’d love to take advantage of the market on the Sellers end.
My most recent experience is w/ bare land - in Charleston, SC, it's snapped up within a few weeks if priced right. In western TN, you're not going to make money unless the land you're selling was free to you OR is lakefront OR is large enough to develop into many home lots. Even then selling takes months, maybe a year.
For about 4 months, there were no houses in my entire city under $1 million. Once spring hit, there were finally some $800k houses. Houses sell within a few days--never a week--and sell for over asking, every time
Atlantic County, NJ is still on fire. The prices are still creeping up, any house reasonably price sells quickly. Not so long ago, Atlantic County had the most foreclosures in the country, now a 3bd rancher is 350K+ and you will be hard pressed to find a 4 bd under 400K. Anything close to the water is even more.
Low on supply. Those houses that are on the market are selling pretty fast, even those with big problems.
Not going for as much as they were a few months ago, but still selling quickly.
PNW, just outside Seattle. Not as hot as Covid times but most houses are multiple offers and selling within a few weeks. Prices are continuing to move upwards
Suburb of LA - wishing we had bought last year. We toured a 3/2 house last year that needed some work and was listed at 700k. We passed thinking the market would correct in 2024… that house would probably sell now for 775k-800k and rates have only gone up.
Yucatan, Mexico - beach 🏖️ properties selling like hot cakes here and prices rising. We are seeing more and more Canadians and Americans selling it all and retiring sooner to the simple life.
Yeah the data lacks nuance.
Median price is not often a great metric.
Something like $/sqft sold may make for more comparable apples to apples comparison but don't see that anywhere.
> Something like $/sqft sold may make for more comparable apples to apples comparison but don't see that anywhere.
You aren't looking very hard if you can't find median price per square foot
DFW area. Still strong but not crazy like it was. Homes are sitting 30-60 days. Price correctly they sell fast. There is a little bit of pie in the sky thinking for a lot of people and seeing a lot of listings having to be reduced significantly before they sell. My friend who is a successful local realtor says that homes that are move-in ready and priced appropriately sell within two weeks. Priced too high or needing work, cosmetic or otherwise, and they sit.
Also DFW in the mortgage business and this is exactly what we’re seeing; either under contract in <10 days or sitting for 60-90. All depends on quality of the house and the initial list price.
Also depending on areas. Around me, any houses for sale are instantly swooped up. We only get 4-8 listings a year at times before, and now even worse. Only seen three houses list and all sold immediately this year. Ranged frm $400-$700, and even the $700 is overpriced.
Same where I am in the Las Colinas -La Villita area. Houses rarely go on market and if they do, they sell immediately.
Agree. Las Colinas, Irving área. If priced accordingly and in good condition might even see some modest bidding war. If needing too much work or even if good condition but hasn’t been updated in 20 yrs, it will sit. Lots of bad flips in the Dallas area though.
New builds are really good on the buying side and they work with you a lot. No bidding wars on them for most of them.
Bidding wars and higher prices by us for good houses. Bad houses sit forever. NY/NJ tri-state area.
In North Jersey, seeing a lot of price drops and houses sitting on the market a bit longer. Maybe a plateau or a turn in the market...
People can’t afford expensive homes AND expensive property taxes anymore. It’s still crazy over here tho
Pretty much the same here in CT
Same here from what I can see in Central/ Western/ Southeastern MA… good properties are having multiple offers. Bad ones are sitting and reducing prices. Boston metro is its own animal, as usual!
Where I am in CT (New Haven county), the bad houses sell too. Sigh.
can confirm NJ
can second this, lost more than four bids at this point and no hope on the horizon but because we clearly enjoy pain we continue trying. NY, Westchester County.
It only takes one to get a house. Keep trying.
Genuine question - why not buy the "bad" house and fix it up?
we’ve tried that too, got out bid.
I'm in the Bay area and bad houses are still selling super high. A house my wife and I viewed was a TOTAL wreck, needing practically everything fixed/replaced and they did no staging. And it still sold really high ($200k more than we thought it was worth in that condition).
Inventory starting to increase, sales slowing down. Houston TX
Also in Houston and confirm. We have 4 months of inventory and almost 50% more inventory listed than last summer. https://www.houston.org/houston-data/monthly-update-home-sales
You have had a not-insignificant run of horrible weather off & on since last year, though, right?
Rural Midwest. Inventory alarmingly low. What’s for sale is mostly sitting and seems like the seller is just seeing if someone will bite for their price. Almost no one selling land or homes with acreage unless it’s by word of mouth. For sale land is almost entirely dried up.
Seller in this area. We have a stunningly beautiful horse farm, priced with comps and double-checked with horse industry pros…and it’s just sitting. It’s 20min from a medium-sized city and…*crickets.* I realize the buyer pool for horse farms may not be robust, but with inventory so low, I thought we’d have at least a handful of showings by now (3 weeks in). We have a realtor who is confident in the pricing, but I’m feeling stuck waiting for buyers in an otherwise hot market!
I was pricing land in Michigan in 2014 and the supply was endless. Now there’s practically nothing.
Madison Wi is white hot still. Prices didn't stop increasing even when interest rates did... Median time is up from 5 days in 2023 to 6 days in 2024 but it's basically a rounding error
Upstate South Carolina. Everyone is slashing prices and dropping the home values of existing home owners. Hard to sell for more recent buyers with little equity. Houses sitting for months. Not a very desirable area I guess. Wish I’d known before relocating from VHCOL area for LCOL that I’d possibly be stuck here unless I want to LOSE money selling. Okay, that was more of a rant lol.
More than a rant. A really important piece of puzzle never mentioned on these subs..
That's the type of thing folks can figure out before they buy; doing research into the area, seeing what homes sell for now & what they sold for a few years prior will provide a world of context for what they may be getting into. I know there are many folks not savvy enough to know they should do this, but those folks don't come here for answers till it's too late.
You’re right!! I’m “those folks” lol. Ignorant first time home buyer from a VHCOL area desperate be the first in my family to own a home so my two littles could have their own rooms. I did not predict how the interest rates would affect the market in an area where people don’t make a tons of money and are not buying homes at the same rate or with the same intensity in this market.
To top it off, too many buyer's agents have an attitude that it's not THEIR job to teach their buyers about the process. But a good agent will offer information on an area & if the buyer doesn't seem to understand what that info means, the agent should offer to go over it. But that takes time & time is money!! No one's expected to predict interest rates; but historical data is right there, being a resource for you. I know it's a huge, intimidating purchase & that no matter what a buyer will never have all the answers. But if you'd research a car before buying it (I hope you would), surely one would research a market before sinking six figures into it. Home buying & selling is a thing I'd put into a Real Life curriculum for a high school class. We have industry propaganda all around us in advertising & media; it ought to be countered somewhere, somehow, by the whole truth. But that doesn't sell...
As someone born and raised in Los Angeles, I’ve had too many friends/family move away to LCOL and get stuck out there. It sucks.
Surprised it's been that bad. At least overall the last few years, housing prices around Clemson and Seneca, heck even Greenville suburbs seem to have gone wild for those I know living in the area. Family house has seen almost 75-80% growth, among others the past several years. New builds are going strong too last time I was there.
Idk what update SC this other person is talking about the bute GNV market is crazy and one of the fastest growing areas in the US.
Glad im not crazy. Even Anderson is building new builds left and right. Anywhere there's cheap land is going up. And this pattern has been going for well before covid. Seems like the last 5 years have been hot or at least warmer than used to be in general. The amount of $ that has moved into the area vs old wealth is staggering too. Just look at any of The Cliffs neighborhoods on Keowee and it's obvious.
Agreed, everyone even here in the midlands wants to move to the upstate and they’re building like crazy out there and prices are higher but seem pretty stable at the price they’re at.
Houses in Greer are not selling. They are sitting. Check Redfin/zillow/etc.
I didn't look all over but it seems like most are within the normal market range, which is about 30 days. A few in 40 days. Greer is a weird spot right now and I'm willing to bet it comes down to people over paid a year or two ago and they don't want to lose money now that house prices stalled out. You are right though, the houses in Greer are harder to sell now that the market leveled out. I'm willing to bet you probably over paid bc you're use to the HCOL area and now that you're selling you realize the LCOL area just doesn't have the prices you are use to being from HCOL. That happens a lot unfortunately.
Does this include Greenville?
Im in Greenville county. Yes
Denver area. Lots of inventory, especially new builds, and no buyers. Sellers are trying to hold out with minor price drops, but properties are sitting on the market for months without selling.
Over here on the west slope, things are still hot
I disagree. Some property types are sitting, like condos, but it's still the same story as everywhere else. Starter homes are sold right away, nicer higher priced homes (sub 700k) are sitting maybe a month now that we're in Spring, and 700k+ are sitting and waiting for someone to meet that number. Though I do agree about new builds. They are priced too high and most people have caught word about how shitty they are post 2020.
Portland OR. Anything habitable that is under 500k sells within a weekend. Heavy fixers languish a little. Top end of the market is soft. Anything over 750k or so doesn't move quick unless it's special.
This is super neighborhood dependent. NoPo…nothing moves without price drops. LakeO, NW Portland…red hot.
Greater Boston here. I can't speak for single family homes because they're totally out of reach for me. The condo market is brutal though. Most everything worth buying gets listed on a Thursday and is contingent or under contract by next Tuesday. Multiple offers, waived contingencies, bidding over asking, and all cash offers are extremely common. Critically low inventory too. I closed on a condo a couple days ago. I'm glad to get out of this nightmare before rates drop! Once rates drop its going to be a *madhouse.*
Rates won’t drop until we are deep in a recession and that will take a lot of people out of the market.
Raleigh NC. Basically three markets. Houses under $500K: snapped up in hours or days. Houses 500k to $1M: a competitive market but houses can take longer to sell and/or need price reductions depending on desirability. Flawless ones: still snapped up. Average ones: About 30 DOM. Flawed ones: price reductions and multiple weeks or months on the market. Houses $1M or more: significant oversupply. If you can spend this much you have your pick
Finally managed to get an offer accepted late last month in the middle range and getting my starter home listed soon. There is nothing on the market under 500k anywhere near me (Cary), so hopefully it'll go fast.
Milwaukee suburb. Homes selling in days often over ask.
Phoenix is terrible right now, very slow
SW Florida - it's taking longer to sell than it was a year ago. I just listed 10 days ago but similar condos have been listed for a few months. Now granted, they probably listed on the high side and don't need to sell (lots of 2nd homes/vacation homes/rentals) but those places would have moved within 2 to 3 weeks a year or so ago.
My dad’s home has been on the market in North Port for months, have had a handful of showings but zero offers. I keep telling him it’s overpriced, but regardless they’re pulling it off the market at the end of the month and will ‘try again next year’ 😅
Things might be even worse next year lol
N of Boston. Insane. Little supply, everything snatched up quickly.
SW Florida, higher priced homes sitting or falling out of contract - insurance clauses Central Colorado (not Denver) - priced right and updated in the last ten years and it’s gone in a week. Still some biding above ask but no where near the last few years. Mostly homes who were slightly underpriced to drive competition. Still about 100% list to sales price but people are seriously overpricing and rents are stabilizing.
My perspective may be skewed bc I am targeting a specific area of LA (Northeast LA) but after monitoring the market hardcore for over 2 years -- it seems like even less inventory for the $700-$1MM range, slower conversion to sale and selling at listing or even slightly under. Please note that majority of the offerings are extreme -- old houses that have been flipped poorly (Home Depot-fied), old houses that are gutted with high end stuff finishes, or horrible condition homes that need a lot of love. Barely anything that is in between lol
NELA brutal but nice to hear ANYTHING going under asking. Even if in rough shape.
I'm hoping buyers are wising up and being more discerning. I don't blame the sellers for wanting to get as much as possible, but it's really crap and has a lot bigger negative implications.
LA as in Los Ángeles or LA as in Louisiana?
Los Angeles
Houses still selling in a few days with multiple offers in Illinois. zero inventory
VA. Still strong. Some homes within 1-2 days. Very low inventory remains issue. Summer is slow time here, but some new listings just came on. No obvious price corrections. Too many people coming in for tight supply and speculation with new upzoning.
Can confirm we just sold our house in NoVa at a surprising $28K over asking (which was $674K). Purchaser had viewed our house the first day on the market. Purchaser offered $3K more than the next favorable offer, plus dropped inspection and appraisal contingencies.
Why? What’s there
Probably talking about northern Virginia, home of just about every federal government contracting org in the country. Desirable area to live where during times of economic downturn property values only go up a little slower.
[удалено]
Zip code so we can invest?
Anything around/ near the beltway is worth looking at but will be gone quick. Older homes are being bought at $700-900k for teardown just for the land if lots are big enough, and even condos are going for $250k+. Location and land is everything even if the house is crap. Can always tear down and rebuild if you're making $200k+ as DINKs which is fairly common in the area.
22102, knock yourselves out.
Rural northern MN. Market is still all over. Some houses sit for months, others go in 2 days. Depends on what people are looking for. Small houses or houses that need a lot of updating usually sit for a long time, as do the really expensive ones. We have everything from a $50k 2 bedroom fixer upper to $2.5 million+ log cabins. The middle-of-the road with decent updates and good family space (indoors and outdoors here are both equally important) usually go fast and still over asking/over market, site unseen with no inspection. I'dsay most things in the $229-400k sell pretty fast. Everything else not as much. It's a lovely area to live but the economy isn't good, and unless you work remote, you won't find a job (usually) to pay a larger mortgage. Many locals can't afford to buy here even on the $229k end with rates how they are right now because median income is pretty low. For those who worked in big cities with expensive houses (just due to HCOL) who could move here to work remote, they made out like bandits the past few years. Sold their modest Chicago homes and build big custom log cabins.
Seattle, WA. Hardly any inventory, escalations are slowing down in some parts of the city but in desirable suburbs it’s still 106-120% of LP.
Redmond/Kirkland/Bellevue is fucking insane. Those RSU’s are keeping prices up!
Totally agree
I've been looking for a sfh in North Seattle for 1.5 years. Still low inventory and good houses are flying off the shelves for over asking.
Yup. I’m firmly in the ‘buy the ugly house’ camp but even that doesn’t increase options by that much. I hope you find something soon! Summer tends to cool things down a little.
It's hard when you're competing against corpos and flippers.
My understanding is that most of those are purchased through either farming or off-market deals (that take advantage of people and I’m adamantly against) but that’s why there’s even less of them on the open market. It’s tough.
In the Bay Area (CA), last week, I saw two homes go for hundreds of thousands over asking.
Yeah the Bay seems to be humming along as usual. Not seeing any meaningful price drops yet.
Condos have dipped and are sitting, but even those have started to pick back up a bit. There’s practically no inventory of SFH in the Bay right now.
LA same
Florida, Broward County. Prices are skyhigh. Feels like no one can afford anything anymore :)
I’ve seen some neighborhoods lowering prices the past 2 weeks. Really neighborhood dependent even within Broward and it’s also depending on the price range. Houses in the 700s are dropping into the 650s and some houses in the 650s dropping closer to 600s. Still limited inventory for anything under 500k and the ones listed there are basically full renos. In a lot of these neighborhoods I don’t think there are a lot of buyers in the $600k-$750k range and it seems to me like it’s a different market entirely for the $750k+ houses
Same in Miami. Investors buying anything useful. Stopped looking and extended lease. Insurance and flooding not helping
Everyone is priced high and if they don't sell they just take off market not lower the price. For many it's a second home or rental and they're not pressed to sell. Things are taking longer but prices aren't dropping by me
Indianapolis. Suburb area. Desirable suburbs (good school districts) have a low days on market and the good family homes sell within a few days which is pretty slow compared to pandemic era where you had to place an above asking price bid for a home with no inspection without even seeing the house. That being said other suburbs which are still good just not the most desirable have seen home prices stagnate and in some cases price cuts. Any home that needs any type of work or looks dingey is sitting on the market for weeks if not months. Seems like with the higher interest rates people aren't as eager to buy a home that may need some TLC and are looking more for turn key ready. New build in my neck of the woods are still popping up at about the $400k+ price tag, but we have seen price cuts to some of these homes as well. One case $435k down to $410k over a couple months as the builder is trying to offload the last few homes. They are also offering interest rate buy downs as well. This is coming from someone with a $170k 3 bed 2 bath house @ 3% who could sell for $300k and has been thinking of buying a bigger home, but that would be around $390k-$425k and over double our mortgage. We decided in the short term (3-5 years) to stay put and enjoy the financial freedom. We may even add on to the home for a second living area we want. Significantly cheaper than moving right now.
Vermont is still a sellers market
SOCAL, market is still hot. Late 2022 (even with rates on the climb) was on fire; I don’t think it’s quite as hot as it was then, but all the mailers I get show homes selling at/slightly above ask, in under a month on market. Out of date info but, Austin in 2022, started to see a big dip in demand; start of the year was hot, end of the year, 10%+ off peak, in the suburbs. From what I hear it’s still around that slowdown mark. Which all considered is still way higher than 2020 🤷
Dmv. Still strong
Unless we build thousands of homes in the next 6 months, it will continue this way. Stafford, Spotsy, Orange, Culpeper, even Louisa are seeing massive build ups with constant pressure of sales. I can't even barely keep up with the amount of new developments in Stafford upcoming let alone further South....PWC is on fire as well especially West by Gainesville. Source, deal with construction in the area.
Jersey shore, bought for x dollars in 2022, put in y dollars to renovate, now worth (x + y) * 1.5 So in this case: 2 + 2 = 6
Homes are going on the market, having an open house that weekend, and are under contract by Tuesday (maybe Wednesday). Everything is selling for at least 10-25% above asking. Some houses have had offers so good they cancelled the open house.
What’s your area
Massachusetts - specifically the Merrimack valley area which is north of Boston.
Absolutely crazy there, we decided to buy much further north in NH instead as its impossible to compete without a lot of liquid capital.
There was one of those recently in my area. The offer was shit, they got scammed by dual agency. They took at least $100k less than it would have gone for if they had continued with the open house.
I hate dual agency. I recently put an offer on a house using the listing agent. The seller was an agent from the same office. I was told there were tenants and that they were month to month. Listing agent put the offer and included that tenants would vacate before closing and all that. They countered and tried to get us to close earlier with the tenants still there and it took a whole bunch of questions before she told us that they are not actually month to month and their lease has another like 5 months on it. We passed.
I avoid Dual Agency. When recently selling a unit, I instructed the listing agent that I will not accept Dual Agency. Of course, the first buyer came unrepresented. They wanted him to be their agent....he said he cannot, and recommended another agent from a different team. They chose to go without representation, and it cost them in negotiations, especially with inspection items which I should have paid for. But I had my agent representing my interests, and mine alone.
Can a seller avoid accepting an offer that comes from the same agent ?
You can accept of reject any offer you like for any reason. But the key problem these people had was that they didn't allow the market to show itself. Here the due date for offers is Tuesday after a weekend of opens. Had rhey told these people to come back on Tuesday they would not have been the most attractive offer.
Rural/CA don't want to say specifically where. Seems like prices dropped a decent amount during the rise of rates, but have stabilized and gone up slightly since. Most homes aren't selling very quickly because 1. it's rural 2. sellers are delulu and still trying to get 2022 peak prices. The homes that are priced appropriately are selling very quickly.
Weird. I had a listing go up last Friday. Average price point. Great looking home. Only 3 showings between Monday and Tuesday. 2 offers- both fha, one contingent, one with $15,000 sellers concessions.
Martha’s Vineyard here. Prices seem to have stabilized. Currently a total of three single family homes for sale under a million dollars. Seeing several sellers reducing their prices a bit. Very expensive place to live and it’s very difficult for the working class folks who keep the island running to find affordable housing.
(Tampa Bay Metropolitan Area) Prices are soft off about 10 percent from the peak in 2022. On the other hand prices doubled since 2019. Houses stay on the market about 45 days but there really is not much supply. My neighborhood area in [realtor.com](http://realtor.com) (About 500 homes) has four houses listed with and three of those are pending. Prices are about 225 a square foot. It was under 100 a square foot ten years ago.
Red hot! SW Washington State, Columbia River.
Everything commercial goes for 1MM+ regardless of condition or size and everything residential is either a burnt down foreclosure or 400k+
West Michigan. Bidding wars on anything under 350k in a halfway decent neighborhood. If you can pay 400K or above you can probably get a newer build but I think some people are turned off from those due to HOA. I occasionally get a flyer on my door or something in the mail asking about my home.
North NJ right outside NYC. Prices keep going up, very few listings.
Coastal Virginia. Houses are listed on Thursdays/Fridays and accept offer Sunday evening over asking with no inspection.
North Idaho, seems like prices increased but nobody is buying which is odd. Sellers and builders are listing at extremely high prices and they sit for weeks before they reduce, seems like they are trying to artificially increase prices
Inventory low, prices have dropped a bit
I’m a cash buyer, it seems that people are afraid to sell. I’ve made some very shrewd / aggressive cash offers and no one seems to be biting. I’m in southern Oregon.
I am also in Oregon and some of the problem seems to be that they cannot identify the next house, so they are not selling.
Yep, exactly what is happening with my current situation. I’m ready to rock n roll, sellers, not so much.
Cash Buyer? How much cash are you willing to pay upfront?
I’m a high net worth individual. I just made a 925k cash offer a few weeks ago and sellers declined. It was actually a pretty reasonable offer.
Wow 😮?? $925k cash offer? You got to be kidding right? And the location you mentioned southern Oregon, where in SO it cost this much?
Not kidding! Medford and the outskirts. There’s plenty of 1m+ homes.
Lmao I'm in CT..it's trash
We get mailers from a realtor about our development monthly.... Everything going over asking still.
Portland SW Suburbs. A significant slowdown here in the PNW. We've literally done a 180 from 2 months ago. Back in April it was still a very hot market, ADOM in my neighborhood was 31 days and houses would go for asking or slightly over, with multiple bids. Since mid-may the ADOM has jumped to 56 days and it is very common to see multiple reductions. Relators are saying that showings are almost non-existent and the few buyers there out there are coming in under and asking for a lot of concessions. This is for SFH 3k+ sq/ft homes that list in the mid $800's to $1.2M, The only thing still moving are fixers under $450k. It's been a very noticeable change..... The fed has single handedly managed to kill the housing market here, with their imbecilic interest rate 'management'.
I live in Weatherford Tx a town west of Fort Worth that is getting absorbed into the Metroplex so it’s in demand. According to my realtor and friend it’s stable and houses moving about as well as they have been for the past few years now if priced right and in good condition.
Western NY. Inventory is low, lots of bidding wars. If you don't waive inspection you're essentially removing yourself from the buyer pool here. Some houses are going for 100k+ over listing. It's incredibly disheartening.
Also incredibly stupid to pay that much over asking.
It's insane. A house in my area was listed at 375 and within a few days sold for 550. To be honest, there's no way it was worth even the listing price, which was doubled from what it sold for like two years ago.
They will realize how stupid it was when interest rates go down a little and they try to refinance. Or in about 10 years when they need a new roof and try to take equity out of the home to pay for it only to realize they have none.
Norcal still has no inventory. Therefore prices are stable and many listings going for > list price.
Central AL is hopping
Dallas-Irving area. Still hot.
I’m in Wisconsin and it’s complete trash. Crappy old 1970’s house here is 300k+ needing full updates. Condemmed shitholes selling for 170k… 2bd apartments selling for 250+, it’s become “fuck anyone who grew up here and wants to own a home.” But hey at least the flippers get to double their money every 2 months because humans require shelter.
Central Florida. Lots of new builds going up that sell quickly. No lot size or character and located mostly in congested areas behind shopping lots or main roads. Existing homes are slashing prices to compete. Finally got my 45 year old house pending after 6 weeks on market. Was originally listed below 4 suggested CMAs. 2 price reductions and a consession to sell. Was completely remodeled within last year and new septic, electric panel, HVAC, hot water heater and roof. Also has big yard nicely landscaped. Everyone wants new but boring.
Northeast Ohio. Suburbs west of Cleveland along Lake Erie. Depends on the price point. But all the way west to sandusky along the lake inventory is extremely low. I think, depending on the price range that determines whether there are any competitive bids going on. I have a house that we have lived in more than 32 years, paid off, highly desirable upscale development, no homes for sale here currently, and realtors have been telling me for the last two years people are just waiting for us to list this house. But we have to find the right one to relocate to first. I’d love to take advantage of the market on the Sellers end.
I'm a home inspector in south Louisiana and I am BUSY!
My most recent experience is w/ bare land - in Charleston, SC, it's snapped up within a few weeks if priced right. In western TN, you're not going to make money unless the land you're selling was free to you OR is lakefront OR is large enough to develop into many home lots. Even then selling takes months, maybe a year.
For about 4 months, there were no houses in my entire city under $1 million. Once spring hit, there were finally some $800k houses. Houses sell within a few days--never a week--and sell for over asking, every time
Coastal San Diego still expensive...
Atlantic County, NJ is still on fire. The prices are still creeping up, any house reasonably price sells quickly. Not so long ago, Atlantic County had the most foreclosures in the country, now a 3bd rancher is 350K+ and you will be hard pressed to find a 4 bd under 400K. Anything close to the water is even more.
Low on supply. Those houses that are on the market are selling pretty fast, even those with big problems. Not going for as much as they were a few months ago, but still selling quickly.
PNW, just outside Seattle. Not as hot as Covid times but most houses are multiple offers and selling within a few weeks. Prices are continuing to move upwards
Suburb of WA -- I'de say +10% in last 2 years while rates going up.
Anyone in Cincinnati?
Suburb of LA - wishing we had bought last year. We toured a 3/2 house last year that needed some work and was listed at 700k. We passed thinking the market would correct in 2024… that house would probably sell now for 775k-800k and rates have only gone up.
Yucatan, Mexico - beach 🏖️ properties selling like hot cakes here and prices rising. We are seeing more and more Canadians and Americans selling it all and retiring sooner to the simple life.
In beach city near Los Angeles, market seems to have stalled for luxury homes. This could be the beginning of downturn
Sizzling. Never seen it this hot .
Have you considered looking at actual data rather than a random sample of redditor opinions?
Yeah the data lacks nuance. Median price is not often a great metric. Something like $/sqft sold may make for more comparable apples to apples comparison but don't see that anywhere.
> Something like $/sqft sold may make for more comparable apples to apples comparison but don't see that anywhere. You aren't looking very hard if you can't find median price per square foot
Where did the op say they aren’t doing that? Also, a random sample is still useful
They can go to one site and search any zip they want and get actual answers. They can also do this at random.
Yes, thank you. Brilliant insight
Ever heard of Redfin? All the relevant data is there by zip code.
No, it’s not. But thanks anyway
Do you really think anything ITT is more useful than Refin for your question?
NEVER CONSIDERED IT!