Citrus Heights home receives 122 offers in one weekend, sells within three hours

But in a single weekend, the 1,400-square-foot home with an asking price of $399,000 collected 122 offers in total.

“That house was on the market for three hours,” Anita Jackier told KTXL.

The couple said they planned to sell their longtime home after making the decision to move to Idaho. It boasts three bedrooms, two baths and a large backyard complete with a swimming pool and fountain.

“People would think that it was underpriced,” said Brittan, adding that the home sold for roughly $450,000, though the highest offer topped over $500,000. “It was not underpriced. It was straight on with the comps.”


The swift sale and flood of offers might be indicative of the return of the Bay Area real estate surge, which has led prospective buyers to bring in multiple bids on properties throughout Northern California; particularly single family homes as a result of the widespread shift to remote work.

Consequently, prices are soaring across the region.

“The market is hot going into spring,” Vanguard agent Alan Thuma told SFGATE earlier this month.

This was demonstrated when Santa Clara-based real estate agent Alan Wang told the Mercury News that one of his clients – a family who bid on a single-family home in Dublin –  discovered they were one of 49 offers on the house. The four-bedroom home sold for about $400,000 over the $1.7 million listing price.

In San Francisco, condo sales are up 64% year-over-year from the beginning of the pandemic. And in Alameda County, data from the California Association of Realtors revealed the median home price surged 21% to $1.06 million — the 7th consecutive month the county’s median home sale prices have topped $1 million.

SFGATE Local Editor Andrew Chamings contributed to this report. 

Article source: https://www.sfgate.com/local/article/Citrus-Heights-home-Bay-Area-real-estate-surge-16059566.php

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