Do multiple offers mean that the property was underpriced?
No; it means the property was priced right. I have alluded to this a couple of times before. When evaluating multiple offers, there are many, many factors that come into play – factors other than price. Closing date, contingencies, requisite timelines, type of loan, the agent’s reputation … I have developed a spreadsheet that helps to remove the subjectivity of the offer consideration process.
Why write about multiple offers in a buyer’s market? The Charlottesville area real estate market is unique. The market it odd. A listing I put on the market last month received three offers in two days. A listing I started marketing nearly six months ago received two offers on Monday. Karma? Luck? Chance? Who knows?
Bottom line – the “best” offer may not be the “highest” offer. Look at the active comps, price it right and make your best offer.
Interested in Learning More?
I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
Dig Deeper
ICE-ing Out Home Building in Central Virginia
We're used to delays in new construction. Weather, COVID-supply chain stuff, delayed permits, and in 2026, two new things are being thrown at us in Albemarle County specifically, and Central Virginia more broadly. I represent a fair number of people buying new construction, and I…
Talking Real Estate Matters – Interest Rates and Midterm Elections
I was on Michael Guthrie’s radio show, Real Estate Matters, last week. As I’ve started doing, I had Granola (AI note app) running, so I could focus on the conversation instead of going back and listening to take notes. I find great value in conversations…
Charlottesville-Albemarle Real Estate Market Shifting – October 2026
This is a different blog post than usual as it's a recounting of a recent conversation with a client, supplemented by market data. A client called me this week and asked, "What's going on in the Charlottesville - Albemarle market?" If you have questions about…
Thoughts on 2026 Albemarle County Assessments
Albemarle County assessments increased again in 2026. Want to challenge your assessment? Here's the form. Curious about FAQs about Albemarle County assessments, here's the FAQ. Think your assessment is too high or too low? Ask me; I'm happy to give a quick thought or two.…