The major theme for the first quarter were low inventory, lower sales and increasing prices. Since the end of March the market has only seen these factors increase. Multiple offer situations are very common. In fact in the past week I have had two buyers miss out on desirable properties. One house in Boulder had 13 offers on it. My buyers put in a bid 15% higher than the asking price and didn’t get it! The other was a house in Lafayette that had 4 offers on it. They offered 3% higher than the list price and came in second place. It’s a bit crazy out there right now.
Enjoy the report. Kearney Report 1st quarter 2014.