Trend alert: multiple offers on houses are popular again

One sign of a strong market is multiple offers at or above the asking price of a home.

Suzie Gole, broker-owner of Texas Champion Realty in Round Rock, said it is common to receive multiple offers on homes priced at $250,000 and less.

“The most popular are single-story, around 2,000 square feet, with quality flooring, in good repair, at least three bedrooms and two baths, and a yard that offers some privacy,” Gole said.

Gole said it is common for a home in that price range to go on the market on a Friday, for example, and the seller will indicate he or she will accept offers until 6 p.m. Sunday, reviewing and making a decision on the highest and best offer in a matter of two days.

“In cases like this, a buyer will need to be very aggressive with their offer if they have any chance of being the winning offer,” Gole said.

One client of Gole’s submitted an offer on a home in Leander listed at $230,000, and there were 15 offers presented.

“Though exciting for sellers, this kind of market can be very discouraging for buyers,” Gole said.