[quote=AN]The inventory # seems to keep on getting worse by the day. Currently, there’s only 19 active SFR and 8 Condo/TH for sale in my area. That’s tiny for an area over over 70k people.[/quote]
AN…At least in MM, it seems like buyers are out in full force.
I tried to put another on a 1/1 in MM recently that was asking around $135k.,..full price cash offer just for kicks…It would have just been so-so as an investment, but what the hell I thought. I think my offer went in day after it was listed or close to that. Anyway, ended up I was the 6th offer…..and that was even before any showing or the open house that was being done that weekend…Yup… Didn’t get a counter or anything (not that I would have entertained any counter above asking there)…It’s also not the first time that that’s happened recently..So…yeah, it’s kinda brutal right now in your submarket.
Fwiw… Starting to see 1/1 going for higher $140k (some went for $150k recently), when things were in the low $130ies beginning of year…. Also 2/2’s that went for high 190ies-200 it seems now entering escrow around $210k….
Not looking good for buyers in MM right now… And with rent prices holding where there are at, more and more people are gonna try get some game…
Just be glad you’re not in the bay area though. It’s even more ridiculous there. There, people are resorting back to writing letters to owners asking if they plan to sell.. I’ve been getting them again…
