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RayaHope's avatar

Are houses selling super fast where you live?

Asked by RayaHope (7297points) 1 month ago

A house just a couple doors down went up for sale a couple days ago and has already sold. Is that normal?

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8 Answers

Acrylic's avatar

Not sure about normal, but we bought a house a bit over a year ago that was on the market literally days. We knew what we wanted, this place fit like 80% or more of that list. Just costed a tad more than we wanted, but it was worth it in the end.

Tropical_Willie's avatar

In my neighborhood; they have sold 3 houses built on “spec” since 10/30/2022. There are 63 other houses in the neighborhood, some built 28 years ago.

janbb's avatar

Our neighborhood is selling very fast. Older homes are selling for a lot of money and sometimes they are being torn down! A lot of people from NYC bought second homes here during the pandemic.

JLeslie's avatar

That was normal mid 2020 thru mid 2022, but now it’s slowing down.

It was horrible that we had such low interest rates for a few years. Houses had multiple bids within a day. Prices went up and up. It’s terrible.

We had a similar situation 2002 they 2005, and then finally that bubble began to burst.

My husband thinks prices won’t go way down like 2006,7,8, because unemployment is still very low now.

We’ll see.

Prices are flattening or going down a little now, and days on market is longer than last year. More properties on the market compared to last year also in most markets.

There are pockets around the country that are still going very fast, and some are slower, but that’s true at any given time.

Blackwater_Park's avatar

People are still relocating here in droves. They have ballooned the housing market to the point locals cannot afford housing. When a nice house in a good part of town on a level lot goes up for sale it sells in a day. A year ago something like that would be a bloodbath of competition for it. It’s slowing, but only a little. My house has doubled in “value” over the last two years. The median wage here used to allow one to get a house, not today. People coming from California and the northeast have ruined my town.

RayaHope's avatar

My mom says that the prices are crazy off the charts compared to just a decade ago. I don’t know if I’ll ever be able to buy, I may live here forever.

Blackwater_Park's avatar

I fully expect people your age in five years or so to move into less desirable neighborhoods and gentrify them.

RayaHope's avatar

WOW I’ll take that as a compliment I had to look up the word gentrify.

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