If you’re looking for houses for sale in Kennedy Township PA, you’re probably thinking about what you’ll need to do to get your offer accepted. To still get the home in previous years, it was common for buyers to try and determine how much less than the asking price they could offer. The buyer and seller would then negotiate and typically agree on a revised price. This was somewhere between the buyer’s bid and the home’s initial asking price.
Buyers shouldn’t shop for a home with the same expectations in today’s real estate market.
Things Are Different Today
Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), the average home that’s sold today
- Receives 4.8 offers
- Sells in just 17 days
Homes for sale in Kennedy Township PA are selling quickly and receiving multiple offers. This shows how competitive the housing market is for buyers right now. There are more buyers on the market than homes for sale. Homes often sell for more than the asking price when the number of homes available can’t keep up with demand.
How Does This Impact You When It’s Time To Submit an Offer?
Market conditions should help guide your decisions throughout the process. In today’s market, the asking price of a home is often the floor of the negotiation rather than the ceiling. Knowing this is important when it’s time to submit an offer. But, you should also use that information as you’re searching for homes too. You don’t want to fall in love with a home that ultimately sells for a price higher than what you’ve budgeted for.
If you’re looking to purchase a home in a competitive market, the Mortgage Reports has advice. The article encourages you to be realistic with your housing search, saying:
“The best thing to do is set your budget and expectations ahead of time so you know how much you can afford to offer — and when to walk away. This will make negotiations a lot easier.”
You’ll want to do everything you can to submit your best offer up front and win a potential bidding war once you’ve found your dream home. Knowing the current market is key to crafting a winning offer. That’s where working with a Real Estate Agent in Kennedy Township becomes critical.
A Kennedy Township Realtor – Diane McConaghy Team at REMAX Select Realty will draw from their experience and expert-level knowledge of today’s housing market throughout the process. They’ll also balance conditions in your area to make sure your offer stands out above the rest.
Bottom Line
Understanding how to approach the asking price of homes for sale in Kennedy Township PA and what’s happening in today’s real estate market are critical for buyers. Connect with the Diane McConaghy Team at REMAX Select Realty. We we can work together to create a winning plan for you.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. and the Diane McConaghy Team does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. and the Diane McConaghy Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
We believe every family should feel confident when buying and selling a home.