...is what we're experiencing in the Raleigh market today. Scarce inventory, would be another way to characterize the current real estate environment. In fact, buyers are beginning to run into the issue of constantly dealing with multiple offer situations within prime areas.
Locations such as, ITB (Inside the Beltline), Midtown, Brier Creek, North Ridge, and Old Raleigh, to name a few, are finding properties not only being quickly acquired by strong buyers in just a few days, but many times they're going for at least 6% over list price.
The bottom line is, buyers don't have much time to figure out rather or not they should keep browsing. Chances are, when they come back to a property, it's either going to be under contract, or there's a greater likelihood they'll be paying more than the asking price.
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