Make Your Best Offer FIRST
This strategy is not about trying to negotiate the best price; it is about beating out the competition and buying the home. It may be difficult to understand until you have lost a few homes to better offers but when the reality of the situation is that there are not that many homes on the market, the competition heats up and different tactics are necessary. Sales in December were annualized at 6.76 million, a 22.2% increase year over year according to the National Association of REALTOR®. The median sales price is $309,800 which is up 12.9% from the previous year. Inventory for December fell to 1.9 months' supply from 3.0 months' supply in December of 2019. Six months inventory is considered a balanced market. Things that work in a buyer's market will not work in a seller's market. The shortage of available homes for sale has led to not only shorter market times but multiple offers that have sales prices above the listing price. Buyers, especially in e