Only 58.9% of home offers faced competition in September, the lowest level for 2021 so far, according to a market index produced by Redfin based on offers written by its agents. That’s down from a peak of 74.3% in April. September also marked the fifth consecutive month of declines in bidding wars.
Still, homes are selling quickly: 86% of homes sold in September were on the market for less than a month, according to the National Association of REALTORS® latest housing report. About 33% of homes that went under contract had an accepted offer within just one week of being listed on the market.
45% of homes sold at or above list price, up from 22% in 2019.
