Are Multiple Offers the New Normal?

These days, it’s become the standard to see multiple offers on the best deals. Often, within 24-72 hours you can expect to see offers on San Diego duplexes, triplexes and fourplexes. Many of these offers for 2-4 units come from cash investors who offer sight unseen.

Below, you can see the California Association of Realtors released survey results from California home sellers from 2013. What’s astounding is the doubling of offers received from 2012 to 2013, from 3.1 to 5.9. Although these stats likely refer specifically to single family homes, it’s believable that the 2-4 unit market mirrors this data. This type of market activity is obviously not sustainable for the long term, but investors in the market right now, this is the new normal.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For further discussion of market activity or help with the purchase or sale of your property, please don’t hesitate to get in touch. Thanks!

Information gathered from Sandicor. As always, please note our disclaimer.

LAWRENCE DY