Remember the days when houses were selling in hours, buyers were offering over asking price, and waiving every contingency just to win a home? Well… things are changing.
So, Are Bidding Wars Actually Over?
Not entirely—but they’ve calmed down significantly. The past few years have been a wild ride for buyers, with homes getting 10+ offers and selling way above list price. But now, thanks to rising mortgage rates and market shifts, buyers have more breathing room.
What’s Changed?
📉 More Inventory: Homes are sitting on the market longer, meaning buyers have more options.
💰 Sellers Are Adjusting Expectations: Pricing a home too high can backfire. Smart sellers are pricing more competitively instead of assuming multiple offers.
📆 Days on Market Are Increasing: Instead of selling within hours, many homes are now sitting for weeks—sometimes even months.
🏡 More Room to Negotiate: Buyers can now ask for repairs, closing cost help, and even price reductions—things that were unheard of a year ago.
But Don’t Get Too Comfortable…
🔥 Well-Priced Homes Still Get Multiple Offers – If a home is in great condition, priced competitively, and in a desirable location, it can still attract multiple offers—just not at the frenzy level we saw in 2021-2022.
📍 Some Markets Are Still Competitive – Hot markets (think: parts of Atlanta, Austin, and Miami) are still seeing strong demand and low inventory.
What This Means for Buyers & Sellers
✅ For Buyers: You finally have more options, more negotiating power, and fewer bidding wars. That’s a win! But don’t drag your feet—good homes still go fast.
✅ For Sellers: Pricing correctly is critical. Overpricing will lead to your home sitting on the market and price reductions later.
Moral of the story? The market is shifting, but homes are still selling. You just have to play it smart.