How To
How to Win a Bidding War
In a ruthless housing market, a standard offer may not seal the deal. Beat the competition with these expert-backed strategies.
A bidding war is a seller’s dream and a buyer’s nightmare.
Freddie Mac data showed the US housing market was short 3.7 million units in the third quarter of 2024 — down only slightly from the feverish pandemic days — and the scarcity is only incentivizing competition. The National Association of Realtors said properties received at least two offers on average in 2024, and during the busy spring selling season, 29% of properties on average sold over asking. The market can feel even more cut-throat in desirable locations such as New York City, Miami and San Francisco.