Red hot housing market forcing many into bidding wars
WICHITA, Kan. (KWCH) - If you’re looking for a house in the Wichita area, good luck. The housing market is currently red hot, forcing many to go into bidding wars on homes, even in some of the lower price ranges. Eyewitness News spoke with one local woman selling her home. She said she recently had nearly 80 showings in one day.
Maureen Nauslar has lived in her home in Wichita’s Delano District for about 20 years. Now, she’s selling.
“Mixed feelings. I’m very happy,” she said. “If there is anytime to sell, it’s now. I could live here for (more) 20 years, but who is to say it will be a hot market in 20 years?”
Nauslar knows she won’t have any problems finding someone to buy, getting nearly 80 showings in a single day.
“Crazy. My phone went dead (Thursday) from so many requests,” she said.
Her realtor, Dyllen Mefford, experienced the same situation when his home hit the market Thursday.
“It would be very rare to run into a home that is within the right price range for the conditions and locations that doesn’t have multiple offers,” Mefford said.
With few homes and even more buyers, Nauslar said she already has four offers. She said this time last year, about 800 homes in Wichita were on the market. Now, there is about half of that total.
“If we were to not get any more listings out up today, in two weeks we would be out of homes to sell,” Mefford said.
While it’s a good situation for Nauslar, it’s a problem for buyers.
“IA trend I’ve been seeing is about eight percent over asking,” Mefford said.
If you are trying to buy a home, experts recommend acting fast and putting down the best offer that you can.
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