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    Real Estate Bidding Wars Hit Lowest Point In A Decade

    Thanks to an inventory shortage, the market has been tough for buyers in recent years. Many buyers would find themselves in bidding wars for in-demand properties, driving up the prices—and often driving them right out of their price range.

    But it looks like that’s changing—and it spells good news for potential buyers.

    According to recent data from Redfin, in October, just 10 percent of offers written by the brokerage faced competition from other buyers. That’s down from 39 percent at this time last year—and the lowest point in a decade.

    The Takeaway:

    So, what does that mean for you? It seems that the competition for property isn’t quite as fierce today as it’s been in recent months and years—so if you’re thinking about buying a home, now is a great time to make a move.

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    Peter Sweeney

    Hello Colorado, thank you for taking the time to visit our website! We are a Colorado rooted brokerage whose founder's grew up in the Denver Metro Area. We are passionate about creating a culture of happy agents which then relays to the amazing service they provide to clients. If we can help you in any way, with any Real Estate needs, please do not hesitate in contacting us. Thank you again for taking the time!

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