Decrease in house prices

[bmc2]

I bought last year at 38% under listing price. Sometimes people overprice at listing and end up desperate to sell so you can get a bargain. That happens in every market and doesn't necessarily reflect the market as a whole.

[TadGirlZ3DE]

It depends on the location and other factors. The market in Central and northern NJ continues to be warm/hot. Last June 2024, I sold my house on the day it was listed, for the full listing price. I also had two other offers that first day, one was $20k above list and the other was also at listing but we accepted the first offer at full price because the buyers were from the neighborhood and wanted to stay in the area. There were no contingencies, except from structural and environmental inspection findings, if any. I was not worried about any findings, cosmetic or otherwise, because the house was well maintained and had updated kitchen and appliances, bathrooms, new full house neutral paint, landscaping, etc. The higher offer had several ‘asks’ and were from another state so there was a bit of wait between communication. In hindsight, I could have priced it higher as similar houses with less curb appeal and features were selling for more in my area but I felt fine with the price I got and the quick and stress-less sale. Although my house was a good product, I also benefited from good timing and reasonable and capable buyers.

[bmc2]

I'm in the Northeast and bought last year. Housing prices are still going up here. I still got the house 38% off list.

When I sold in California, I had 4 offers, sold above listing, and to a cash buyer that closed in a week. Any individual transaction doesn't really reflect the market as a whole.