How to Win in Multiple Offer Situations
Posted by Liv Real Estate onLast week Sheldon and Sara were joined by two amazing Liv agents for a Facebook Live to discuss multiple offer situations. Deidre Harrison and Tonya Brown have helped many clients successfully navigate through multiple offer situations and they shared their strategies with us. Check out the replay here and read on for more details in the blog post below.
Why are multiple offers are such a hot topic right now?
Multiple offers arise when inventory is low and demand is high, which is what we are experiencing right now, particularly for single-family homes in the $350,00-$500,000 range.
Top strategies for standing out from other offers
Prepare
Have all financing pre-approved and a letter from the lender stating this. Be careful what you…
954 Views, 1 Comments
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 751 (689, 739, 687)
# Sales: 468 (383, 450, 397, 387)
Ratio: 62% (56%, 61%, 58%)
# Price Changes: 341 (300, 287, 304)
Expired/Off-Market Listings: 161 (136, 276, 139)
Net loss/gain in listings this week: 122 (170, 13, 151)
Active single-family home listings: 2517 (2485, 2442, 2390)
Active condo listings: 2660 (2555, 2478, 2466)
Homes 4-week running average: $463k ($454k, $451k, $445k)
Condos 4-week running average: $231k ($232k, $223k, $223k)
Single-family home prices just hit an all-time high in Edmonton -Â as of 12:20pm today, the 4-week running average is $462,219!! Who can honestly say they saw that coming a few…
Sheldon and Sara were recently joined for a Facebook Live by some of Liv’s resident experts on purchasing and living in a rural home. Tameka Ross, Lindsay Parsons and Allison Meston all had amazing information to share, and we’ve compiled it all into the blog post below.
Watch the replay here:
Covid has seriously impacted the real estate market from a huge drop last march to a completely unexpected surge this spring.Â
The biggest trend over the last 10 months has been the desire for more space and along with that, there has been a huge growth in sales of rural properties.Â
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 689 (739, 687, 679)
# Sales: 383 (450, 397, 387, 341)
Ratio: 56% (61%, 58%, 57%)
# Price Changes: 300 (287, 304, 265)
Expired/Off-Market Listings: 136 (276, 139, 123)
Net loss/gain in listings this week: 170 (13, 151, 169)
Active single-family home listings: 2485 (2442, 2390, 2317)
Active condo listings: 2555 (2478, 2466, 2395)
Homes 4-week running average: $454 ($451K, $445k, $441k)
Condos 4-week running average: $232 ($223k, $223k, $218k)
The market has been hot this spring and we could see it heat up more than it already is, at least in the short term. OSFI is currently discussing increasing the stress test…
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 739 (687, 679, 649)
# Sales: 450 (397, 387, 341, 262)
Ratio: 61% (58%, 57%, 53%)
# Price Changes: 287 (304, 265, 260)
Expired/Off-Market Listings: 276 (139, 123, 144)
Net loss/gain in listings this week: 13 (151, 169, 164)
Active single-family home listings: 2442 (2390, 2317, 2253)
Active condo listings: 2478 (2466, 2395, 2285)
Homes 4-week running average: $451K ($445k, $441k, $440k)
Condos 4-week running average: $223k ($223k, $218k, $206k)
Ok, the market has officially gone into over-drive. We rarely see more than 400 sales in a week, and when we do it's normally June. The last time there were more than 400 sales was…
Well, I knew the market was hot, but I didn't think we'd see sales more than double what they were last year at this time - residential sales in the Greater Edmonton area were up 109% in March. The benchmark price for single-family homes is up 5.6% year over year and 1.7% over last month. It's a solid seller's market with less than three months of supply, even with new listings up 51% over last year. Compared to other places in North America where inventory is incredibly tight, the good news is that we actually have new inventory coming on the market.
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 687 (679, 649, 621)
# Sales: 397 (387, 341, 262, 309)
Ratio: 58% (57%, 53%, 42%)
# Price Changes: 304 (265, 260, 241)
Expired/Off-Market Listings: 139 (123, 144, 290)
Net loss/gain in listings this week: 151 (169, 164, 69)
Active single-family home listings: 2390 (2317, 2253, 2187)
Active condo listings: 2466 (2395, 2285, 2184)
Homes 4-week running average: $445 ($441, $440, $429)
Condos 4-week running average: $223 ($218, $206, $ 203)
“Our biggest successes are born out of discomfort, uncertainty, and risk.”― Gary John Bishop
Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days:
New Listings: 679 (649, 621, 481)
# Sales: 387 (341, 262, 309, 280)
Ratio: 57% (53%, 42%, 64%)
# Price Changes: 265 (260, 241, 261)
Expired/Off-Market Listings: 123 (144, 290, 107)
Net loss/gain in listings this week: 169 (164, 69, 65)
Active single-family home listings: 2317 (2253, 2187, 2142)
Active condo listings: 2395 (2285, 2184, 2117)
Homes 4-week running average: $441 ($440, $429, $425)
Condos 4-week running average: $218 ($206, $ 203, $214)
387 sales last week, we typically see numbers like that in a very good May or June week. We haven't had that many sales in a March week for as long as I've been tracking weekly stats…