Have you been thinking of selling your home, but haven’t because of market concerns?
Well the time is now! The Greater Boston real estate imbalance has left buyers with a shortage of inventory to choose from and has left you, the sellers, in control of the reins. Listing your home at fair market value now, in January or February, will put you in a position of less competition and will also place you in a stronger negotiating situation. Buyers shopping in the winter season are serious purchasers. Who in many cases, must buy.
According to the Warren Group, a firm that collects real estate statistics and publishes Banker & Tradesman, October 2013’s Massachusetts’ single-family home sales rose almost 19 percent from last year’s, and the median price of a single-family home rose nearly 10 percent. This is the highest median price for the month of October, the last full month of the Fall 2013 market, since 2007. October’s median condominium price also rose a little over 11 percent compared to October 2012’s median price.
Despite Eastern Massachusetts’ 34.4 percent decrease in the number of new listings compared to last year, buyers are continuing to search and are consistently having bidding wars for properly priced homes. Buyers also fear a continued increase in mortgage rates and are looking to buy before the rates climb any further. Although previously not recommended, some home buyers are even going as far as making offers without a home inspection contingency in order to win the bid in multiple offer situations. Sound familiar?
Between 9/1/2013 – 11/27/2013 our local markets of Concord, Carlisle, and Acton saw single-family houses selling above asking price at a substantial percentage.
During these dates, Concord saw approximately 17% of its homes sell above their listing price, Carlisle 18%, and Acton 24%.
Clearly, based on these facts, the market for 2014 will be strong.
To speak with one of The Attias Group’s skilled listing agents about selling your home or with one of our top buyer agents, please contact us at 978.371.1234 or visit our website at www.theattiasgroup.com.