Are Multiple Offers Back?

Are Multiple Offers Back?

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Currently, there are 1,843 properties in the Portland Metro area that are under contract. Out of all of those, approximately 9% of them stated that an offer deadline had been set. 

While the market was relatively slow due to high interest rates and a lack of inventory in the fall and winter months, the coming-into-spring market has shown to be quite a bit more active. Many homes I have viewed recently have been jam-packed with showings with an offer deadline set when multiple offers are being received.

So what does this mean for buyers? Is it time to be discouraged? Not at all. Gone are the days when 8-15 offers come in on a property, however, a good house, that is well priced - can garnish one or more offers the first weekend - and it only takes one good offer for it to go pending. Mainly for buyers it is time to be active when searching, view properties early when they get on the market, get your finances together ahead of time, and write a strong offer (you don't have to go crazy) when you see that good house you've been so patiently waiting for.