As soon as somebody hears that I’m a Realtor, one of the first questions I’m often asked is, “how’s the market?”
Overwhelmingly, the answer is “it depends.” However, today’s Boston market presents opportunities and challenges for buyers, sellers and investors. Today’s brief post concentrates on sellers.
Strong Economy + Low Rates + Scarce Inventory = Seller’s Dream
In my opinion, sellers are benefiting the most from today’s market, and from what I’ve seen with our team listings over the last year, if a property is priced competitively and shows well, then it shouldn’t sit on the market very long. Here’s why:
- Supply is low: there were 22.3% less homes for sale in Boston in August 2014 than August 2013
- Our economy is strong, as indicated by our unemployment rate being 1.3% better than it was a year ago.
- Mortgage rates are .2% lower than a year ago, when they were “historically low”
If you’re a seller and are interested in a free valuation of your home, let us know!
In Part 2 of my market analysis, I’ll explore the opportunities buyers have in today’s market, and how potential challenges can be mitigated with the right gameplan! Have a question? Connect with me today!
