If you’re like most people trying to gain a foothold in today’s rapidly changing and challenging real estate environment, you might be feeling the crunch of competition in today’s hot housing market.
Residents in California are acutely aware of the home buying and selling challenges in this market. In the Golden State, home prices were already averaging some of the highest in the country before the COVID pandemic spurred a record-breaking real estate industry last year. California’s median home price is now $505,000, the second highest median price in the country. (Hawaii has the highest median price at $615,300).1 Find your state’s median home price here.
Driven by both historically low interest rates and an extremely low inventory of existing homes, higher prices are a common pain point both buyers, and sellers who become buyers after selling their home, are facing across the country.
That’s where Offerpad can help.
We’re now in California to help home buyers and sellers
With the recent opening of our three new markets in San Bernardino, Riverside, and Sacramento, California, we’re making it easier for home buyers and sellers there and in more than 1,700 locations nationwide to compete in today’s hot real estate market. A one-stop shop for your buying and selling needs, Offerpad brings flexibility and certainty to a traditionally complex process with a more convenient approach including 24-hour cash offers, customizable listing solutions, home mortgages and title services.
Homeowners who sell to Offerpad are empowered to compete in a hot housing market where inventory is limited, homes sell quickly2 and cash sales are surging. One study shows that in Q3 2021, all-cash home sales are at their highest level since the first quarter of 2015, with 34% of all single-family homes and condos purchased without financing.3
Compete with confidence
Offerpad EXPRESS cash offers take the guesswork and uncertainty out of selling. When sellers find their new dream home but need to sell another one first, the process can feel daunting. Sellers don’t have to ask themselves, ‘Will I sell? When? And for how much?’ They can worry less about the contingency of selling their home before making an offer on another one. And with multiple offers on most available homes now,4 cash from the sale of yours could help make you a more attractive buyer. Taking an all-cash offer means sellers don’t need to worry about those that are contingent upon financing or the sale of another home. With flexible closing dates of up to 90 days from when you accept an EXPRESS offer, you’ll also have more time to find and move to a new home. (We offer free local moves to sellers, too! Find out more here.)
Buyers in today’s market can benefit from working with Offerpad’s in-house, local licensed real estate agents to find a home that’s right for them. With thousands of homes listed on Offerpad.com, you can start your search from the comfort of your own home and get early access to Offerpad-owned homes before they’re listed. Buyers in many areas where Offerpad is available may also earn credits toward closing costs and other Offerpad services, such as new home loans, to help them save money.
To learn more about how Offerpad’s flexible, convenience-based approach to buying and selling a home can help you compete in California or any of our other locations, visit us at offerpad.com.
1Median Home Price by State 2022. World Population Review. https://worldpopulationreview.com/state-rankings/median-home-price-by-state
2Olick, Diana. “Homes are selling faster than ever before, and the spring market is just around the corner.” Feb. 9, 2022. CNBC
3Stricker, Christine. “Top 10 U.S. Housing Markets Where Cash Sales Are On the Rise.” Nov. 5, 2021. Attomdata.com
4Morris, Chris. “These are the cities where you’re most likely to see a bidding war for your home.” Jan. 19, 2022. Fortune