Looking at a house that’s listed at $650k but was sold 5 months ago at $575k. Are they crazy or is it the market?

https://imgur.com/a/dFNzaqn

Only started recently looking for a house. I messaged my realtor asking for comps on this house and he said he’s out right now and he’d get it for me later tonight. Until then i’m trying to wrap my head around this listing.

The description/pictures don’t indicate any renovations or anything. My realtor said that houses in the area are *typicallywlling for about 10% over listing which would mean this place sells for $715k, about a 24% increase in 5 months! Is that realistic or is this seller being way too optimistic? I had thought prices would come down a bit because of the rate increase, not shoot up an insane amount!

I’ve looked for comps myself and the only things in the area from the last 6 months are a place that’s sort-of similar that sold for $550k and… this place. Should I just make an offer under listing? I guess there’s no harm, right?

submitted by /u/rentOrInvest
[link] [comments]

https://imgur.com/a/dFNzaqn Only started recently looking for a house. I messaged my realtor asking for comps on this house and he said he’s out right now and he’d get it for me later tonight. Until then i’m trying to wrap my head around this listing. The description/pictures don’t indicate any renovations or anything. My realtor said that houses in the area are *typicallywlling for about 10% over listing which would mean this place sells for $715k, about a 24% increase in 5 months! Is that realistic or is this seller being way too optimistic? I had thought prices would come down a bit because of the rate increase, not shoot up an insane amount! I’ve looked for comps myself and the only things in the area from the last 6 months are a place that’s sort-of similar that sold for $550k and… this place. Should I just make an offer under listing? I guess there’s no harm, right? submitted by /u/rentOrInvest [link] [comments]

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