Those people trying to buy right now knew it. Realtors with well priced listings knew it. Now, the country knows it. May was the busiest month in real estate transactions in over five years. My buyers and sellers experienced it first hand. To give you an idea, homes between 300k and 550k in May in Abbotsford sold for 104% of asking price, ON AVERAGE!
That is a result of low inventory, low interest rates, sunny days and aggressive buyers. One of my clients (sorry to share your story) wrote 3 offers in a week. The first house had 5 offers and sold for 22k above the list price. The second home had 8 offers and sold for 27k above list price and the final time was 10 offers and went for 31k above list price. It is nearly impossible to compete unless you want to overpay.
So, we wait patiently. Sellers, get your homes on the market (please)! CALL ME TODAY!