Housing Market News
Bidding Wars
All-Cash Offers Triple Homebuyer Odds of Winning a Bidding War
Which strategies will increase your odds of winning a bidding war? We analyzed 9,000 offers written by Redfin agents and found the answer.
National Bidding War Rate Hit a 10-Year Low in October
Nationally, just 10 percent of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in October
Bidding Wars Edge Up Slightly in September, Bucking the Typical Seasonal Trend
Nationally, just 11 percent of Redfin offers faced a bidding war in September, down from 41 percent a year earlier, but up slightly from the eight-year low of 10 percent set in August.
10% of Redfin Offers Faced Bidding Wars in August, a New 8-Year Low
The bidding war rate is the lowest it’s been in at least eight years. But some markets, like San Francisco, are still fairly competitive.
11% of Redfin Offers Faced Competition in July, the Lowest Rate Since at Least 2011
Just 11.2% of Redfin offers faced bidding wars in July, the lowest rate since at least 2011.
Just 1 in 8 Home-Purchase Offers Submitted by Redfin Agents in June Faced Competition, Down from 1 in 2 a Year Earlier
The housing market in San Francisco tapped the brakes in June as just 28 percent of offers written by Redfin agents on behalf of their home-buying customers faced a bidding war.
Which Bidding War Strategies Are Most Effective?
Cash is king, but a personal letter to the seller increases a competitive offer’s chance of being accepted by 52%.
Bidding Wars Intensify as Some Homebuyers Make Simultaneous Offers on Multiple Homes
Consider a fixer-upper to avoid competition and high prices, Redfin agents advise.
Homebuyers Faced Fewer Bidding Wars In March Thanks to Surge in New Listings
Bidding wars gained steam as the spring home-buying season got under way, with 61 percent of offers written by Redfin agents facing competition from other buyers in March. That’s up from 57 percent in February, but down slightly from 63 percent in March 2014.
Bidding Wars Hit Oakland Amid Tight Supply
At the end of January, Oakland had only six weeks of inventory remaining. That’s leading to bidding wars.
Bidding Wars Heat Up, but Remain Less Extreme than in 2013
In March, 63.4 percent of offers written by Redfin agents across 19 markets faced competition from other buyers, up from 58.7 percent in February.
Redfin Bidding War Report Shows Home-Buying Competition Eased in May
Seven of every 10 offers written by Redfin agents in May faced competition.
