So I have 2 examples of insanity in this market. My fiance and I needed a bigger home and we moved further from the middle of Charlotte to get it. We ended up $40k over asking to get it, but were willing to go much higher.
We sold a 1500sqft, old home in a very hot neighborhood (pending as of this week) for an insane $443 per sqft. 3 offers over asking in the 1st 24hrs.
Our realtor said people have just reached a point of desperation and are throwing stupid money (and stupid due diligence) to get a home right now.
I can believe what this market has done in the last 5 years!
