In a post on Bay East Association of REALTORS®’s Tumbler blog, competition is heating up for a limited supply of homes in Alameda County: Alameda County Home Prices Climbing
“It’s a sellers market and they have their pick of offers,” said Doreen Roberts 2012 President of the Bay East Association of REALTORS®. “It’s not unusual for more than 20 or even 30 offers to be made on a single property.”
Just a quick screenshot from Movoto’s market statistics and you can see it is even more so in Oakland, where I specialize in. The median list price has jumped up 27%, while at the same time there is a 31% decrease in inventory and almost a 50% decrease in the number of distressed sales such as REOs and Short Sales. Buyers are starting to see a lot more regular sales and trust sales come to the market. It is not uncommon for the window opportunity to view properties to be only several days or even a single 2 hour Open House before 10+ offers are received. Are you working with an agent that moves as fast at the market that you are in? Call one today!