Florida Home Sale Bidding Wars Continued? Do home sellers still have an advantage in the South East Florida Market? Michael Friedman Realtor eXp Realty Palm Beach County


 

October 4, 2022

FL Home Bidding War Continued?

How Can I Help You?

I recently listed a home and one of the seller’s first questions was regarding what the home buyers are still giving up in bidding wars. 

Redfin, the real estate brokerage, put out information regarding home buying bidding wars. 

Redfin reported the Miami area was near the national average with 44.2% of offers written having competition in August 2022 with the national average being 44.6%. 

The information provided showed townhomes had competition in 44.1% of the offers by Redfin agents, followed by 42.1% of single family homes being competitive and only 37.0% for condos. 

Despite increasing mortgage rates, the housing market remains competitive for home buyers. 

However, the trends are showing it is less competitive for home buyers and if the trend continues, it won’t be long before it is a neutral landscape for home sellers and home buyers. 

Selling and purchasing homes are expensive, complex and important purchases.

Contact me to see how I can help you, a family member, friend or colleague.


Michael Friedman

Realtor, Broker-Associate

eXp Realty


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