We have identified a new trend: sellers who once confronted with good offers and lots of interest in their properties decide to not sell and withdraw from the market ….and stay put.
Many of these sellers who are forced quickly into putting on their buyer’s hats realize the limited options as a buyer today and decide to terminate the sale process realizing they will be unable to find what they want once they sell their properties.
Some of these sellers become greedy and decide to take their property off the market in the hopes of re-launching later at a higher price. Only time will tell if this is a smart tactic.
Maybe this trend indicates an important shift: for the past 3 years it was critical to list your property first to determine what it was worth, or if it actually would sell…..now the smarter tactic is to first identify what you want to buy before you sell. Knowing what you will move to and at what price eases the doubt when confronted with bids on your property when selling.