It took only six hours on a Friday afternoon last month for Mike and Laura Miller to sell their three-bedroom home in West Mifflin. They canceled the open house set for that weekend after they got an offer late Friday for $20,000 more than the $250,000 asking price.
“Who wants to deal with listing the house all weekend when you can get it sold in one day?” said Laura Miller, 31.
During the current housing boom, it’s now normal for homes to sell at warp speed for more than the asking price. The combination of low interest rates and the most lopsided housing supply-and-demand dynamics in Pittsburgh history has caused a feeding frenzy.