That’s how many different would-be homebuyers bid on Scott Sciumeca’s father’s Cape Cod-style house in the Town of Tonawanda – which he built in 1954, and where Scott and his sister grew up.
With the number of homes for sale at its lowest in more than 22 years, homebuyers are scrambling to find houses they want to buy. And when they find one they like, the competition is often intense, even during a pandemic and a recession that has pushed unemployment to nearly 14%.
“Insane,” Sciumeca said.
The 42 offers came after more than 170 people walked through the home during a weekend of open houses and private showings. Some went through just a half-hour before the deadline for offers.
“It was quite a shock,” Sciumeca said. “It was beyond what I could have imagined.”
In the end, less than a week after it was listed for sale, and after just two hours of deliberations, Sciumeca and his sister accepted an offer of $170,000 – over $45,000 more than they were seeking. They rejected two offers for even more – $175,000 – because they didn’t feel secure with the financing terms that were proposed.
“We were not trying to lowball to get in extra offers. We thought that was what it should be priced at,” Sciumeca said of the $124,900 list price. “We never dreamed in a million years that it would sell for what it did.”