Are “Over Offer” Situations Going Away in Fort Collins Real Estate?

“Over Offer” are golden words in real estate, and they’ve crossed many lips over the last 4 years. 

In real estate terms, and in the chart below, it’s called “Percent of Original List Price vs. Sold.” Real estate shorthand speak is just “percent of list price.”

When a seller puts their home on the market, if they accept an offer that is higher than the list price, we call it “over offer.” Frankly, it makes everyone but the buyer kinda giddy. And even in this market, people who have paid “over offer” often still gain equity in their homes in the current market. The appreciation of value of property since 2013 has been, at times, astonishing.

So astonishing, in fact that many feel something has to give. Many even feel, right now (check post publish date), that something is giving. The market feels like it is softening. We are seeing a lot of price reductions, and buyers rejoicing as a result.

I am seeing a lot of offers being accepted and closed under original list price.

So, I ran the numbers, which you see below. Honestly, it’s too early to tell how deep any perceived cooling trend will go. The under offer situations that I’ve seen have just started to pop up, and they are insignificant to the historical picture at this time.

Once we see November’s full numbers and progress through to, say, around Super Bowl weekend, we’ll have a clearer picture. 

Until then, crunch this data all you want, and let me know if I can produce anything more specific for you. 🙂

COOL FEATURE! Scroll over or tap chart lines for time specific data boxes to enhance this interactive experience!

Data compiled and formatted by Infosparks. I access this service through our multiple listing service, IRES.

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