Ohio Market Watch: Multiple offers continue to be the trend
By Greg Stitz, Ohio REALTORS Director of Research
Last July 42 percent of respondents to Ohio REALTORS monthly housing market confidence survey received only one offer on their latest sale. This July the percentage receiving only one offer dropped to 30 percent. This means 70 percent of respondents received two or more offers on the last residential sale they closed. Looking more closely at the percentage breakout: 52 percent of respondents received two or three offers, 12 percent received four or five offers and 6 percent received six or more.
Survey results are based on responses to a monthly survey, designed to capture the effects of the existing economic conditions and trends on the real estate industry, sent to a pool of 1,200 Ohio REALTORS participants. Click here to participate in future Ohio REALTORS Housing Confidence Surveys.