Bidding War Trends

Percentage of Properties Selling Over the Asking Price

From our experience, most properties that sell above the seller's asking price do so because more than one buyer bids on the property (i.e., a bidding war).

The graph above shows the percentage of previously owned homes that have been selling over the asking price in the Charlotte metro area (based on data from the Canopy MLS). You can manipulate this graph to see trends in this data going back for the past ten years.

Because bidding wars occur when competition among buyers is the highest, we think this graph offers a useful tool to gauge the competitiveness of the Charlotte real estate market on a historical basis.