Multiple Offers Frequent in Playa Vista and California
If you’re in the market to buy, you’ve probably sensed there is a lot of competition these days for a limited supply of properties. Well this cool, but marginally relevant, chart shows the percentage of California properties with multiple offers since 2000. It does not show Playa Vista specifically or anything for 2012, but it shows there has been a lot of competition in our state since 2009. Competition has noticeably increased this year in our area with fewer foreclosures/short sales trickling out, fewer sellers desperate to leave in fear of further declines, and seemingly more demand (likely some due to market conditions and some due to new amenities such as the elementary school).