.....a balanced market this is not. 
I'm fortunate in that I work in a very high end, high priced market in the South Bay of Southern California and highly demanded coastal communties of Manhattan Beach, Hermosa and Redondo Beach. Our market doesn't seem to follow national trends and what's happening out here likely isn't happening in your market. We are now going on 2 solid years of being a heavy sellers market and the demand from buyers just seems to have no end.
I'm fortunate to have a healthy mix of buyers and sellers and this market is great for sellers but seems almost impossible for buyers.
Take for example 3 of my last offers on behalf of my buyers.
- List price of $1,399,000. My clients offered $1,455,000 but contingent on selling their home, which is in escrow. 6 offers. Not countered
- List price of $699,000 which is equal to the all time resale high for this floorplan. My clients offered full price all cash, flexible on COE and were even willing to let the tenant stay. They had 8 offers of which 3 were all cash....on a condo. We were not even countered
- List price of $705,000 and my client came in at $765,000 and we were not countered. 15 offers
These are just the offers from this week and most offers in recent times have been similar. While I try hard to explain to my clients that it is a VERY competitive market, it's as if other buyers are using Monopoly money and each sale seems to be 5% higher than the last.
I feel like we've been here before.
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