Hello Friends and Neighbors!
Sorry for the absence; the spring market took all my time this year at Century 21 Commonwealth!
We have experienced one of the busiest springs in recent memory.
Houses have come and gone in days, multiple offers in many cases with properties selling over list price! That doesn’t mean we have returned to the euphoria of 2004 or 2005 – it means that a properly prepared home that is priced competitively is getting offers.
We are experiencing tight inventory and eager buyers who want to take advantage of locking in an interest rate in the 4 percent range for 30 years.
To recap results of the past six months in Westwood:
- 100 properties are currently on the market
- 94 of those properties have made a price reduction – an avgerage of 6.1 percent lower from list
- 30 properties are under-agreement today with an avg of 106 days on market
- 79 have sold, on average at 96 percent of their most recent list price with an average of 151 days on market.
- 34 homes have come off the market without a sale after 223 days on market.
Sellers have two choices: make their home the “cream puff” of their price range and snag buyers who bid for their home, or market in less than perfect condition and accept a lower price.
So, as we head into the July 4th holiday, I am finding buyers are still out there.
We haven’t seen any downturn in activity – in contrast, our local market saw a “quieter time” in the summer in past years as family vacations and second homes at the cape took people out of the greater Boston area – especially in the higher price ranges.
So – if you are planning a vacation – enjoy! If you are considering a home sale, get your house ready!
There is no time like right now!