Are most offers really way above asking price? Even in typically lower priced areas such as Pittsburg, Antioch, and Oakley? This Spring, the answer has been “Yes”. With (hopefully) more inventory coming, prices may moderate a bit during the summer.
Here's a chart showing - by city - the number of offers coming in below asking, at asking, and in price ranges above asking.
Yes, the truth is all over the spectrum. Some offers have been accepted at or under asking price. Most offers accepted by the sellers are $25K to $100K higher than asking. And, yes again -- a very few offers came in at more than $200K above the asking price.