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Home prices jumped in October amid limited supply

Home » Real Estate » Home prices jumped in October amid limited supply

Home prices jumped in October amid limited supply

When Joe Conoscenti and his wife decided to downsize this fall, they were optimistic about the chances of selling their longtime Cockeysville home, which had a good backyard, renovated kitchen and redone porch.

But even they were surprised at the swiftness of the sale. They received three offers within days of listing the property — including one above the $415,000 asking price.

“I don’t know that we expected it to be that quick,” said Conoscenti, 69. “It was a pretty painless experience.”

Faced with limited supply of homes for sale, homebuyers are jumping on new listings, bidding up prices in a way agents said they haven’t seen in years.