Bidding wars update

Over the past four days, 13% of the single family homes went for list price or higher. A few examples…

A home in Garrison Woods sold for $606,000 which was $6,100 over list price. It had an accepted offer in four days. It was purchased in 2004 for $308,000.

A home in Glamorgan sold for $482,000 which was $7,000 over list price. It had an accepted offer on its first day on the market. It was purchased in 2006 for $395,000.

A reno project in Oakridge Estates sold for $765,000 which was $$2,500 over list price. It was purchased last year for $517,500.

2 responses to “Bidding wars update

  1. 87% of single family homes sold for LESS THAN LIST, but the title is “bidding wars”.
    Am I missing something here?

    Yes, it needs to be put in context. In a “normal” market, there would be no more than 5% of homes selling over list price. -Bob

  2. A home in West Springs was sold yesterday for $552,000 which was $17,100 over list price. It was purchased in 2007 for $449,900, and had an accepted offer in 3 days.

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