Noob question about the market(US, Chicagoland area)

So I haven’t ever done a showing/talked to an agent, but have been passively looking for months and getting an idea for the market.

Was going to go to a showing tmrw for 2 places for the first time ever(both 2 br/2 bath) that seemed like really good places, unfortunately both places were already had offers basically accepted above market(prices seemed a bit low for the quality/value anyway), so it was a no go. They were only listed for about twoish days as well

So what I’m wondering is, I get the market is hot and obviously if I like it + the price is good, other people will think the same and want to put in an offer.

I’m just wondering what are the demographics/thought process of people putting an offer this quickly on places?

Are these young families/people ready to just settle down in the area right away in a place for “x” amt of years? I kinda get the people who are buying these places are familiar with the area and want a place, but I’m just curious of the thought process/situations.

Did people realize the market was really hot and if a place is good, they HAVE to put down money right away? Are there any other reasons? Thoughts?

Appreciate the info!

submitted by /u/gottheguapp321
[link] [comments]

So I haven’t ever done a showing/talked to an agent, but have been passively looking for months and getting an idea for the market. Was going to go to a showing tmrw for 2 places for the first time ever(both 2 br/2 bath) that seemed like really good places, unfortunately both places were already had offers basically accepted above market(prices seemed a bit low for the quality/value anyway), so it was a no go. They were only listed for about twoish days as well So what I’m wondering is, I get the market is hot and obviously if I like it + the price is good, other people will think the same and want to put in an offer. I’m just wondering what are the demographics/thought process of people putting an offer this quickly on places? Are these young families/people ready to just settle down in the area right away in a place for “x” amt of years? I kinda get the people who are buying these places are familiar with the area and want a place, but I’m just curious of the thought process/situations. Did people realize the market was really hot and if a place is good, they HAVE to put down money right away? Are there any other reasons? Thoughts? Appreciate the info! submitted by /u/gottheguapp321 [link] [comments]

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