Wow, what a difference a year makes! Last year we had one of the snowiest winters on record and a foot of snow on the ground. This year, we have 70 degree record temps with the Charles Esplanade filled with runners. The winter weather always affects the spring real estate market, and last year the market got started unusually late. So will this year’s warm winter usher in a hot real estate market? Or will the pesky low inventory rain on our parade?
To answer these questions, I’ve brought in a panel of top Realtors who will give you the report from the trenches, from the City to the ‘burbs. So without further ado, let’s hear from the experts.
The Sudbury & Wayland Real Estate markets are easing into the always anticipated “Spring market.” Like a slow motion game of Dominos, many soon-to-be sellers are waiting for a house they would potentially buy to come on the market before they commit to putting their own homes on. With that, inventory has been low, but is increasing at a steady pace now that it is March and Mother Nature doesn’t seem as eager to make a point as she did last winter. Buyers are actively looking and although not every Open House attendee is a serious buyer, the high numbers of attendees are typically a good indicator of an active market. 2016 is starting to form as a healthy Real Estate market. — Gabrielle Daniels Henken and Carole Daniels — Coldwell Banker, Sudbury. www.LiveInSudburyMA.com
In Cambridge and Somerville, we’re still dealing with the inventory shortage — I don’t think it would be hyperbole to call it a crisis — that we’ve had for the last several years. And although the mild weather has brought buyers out in full force already this year, the listings are just beginning to trickle on, so we’re seeing 9, 10, 20 parties competing for the same home. Hopefully it will be a bit less brutal as we get further into March, but for the foreseeable future, demand will continue to outpace supply here. Lara Gordon–Gibson Sotheby’s Cambridge. www.cambridgeville.com
Dear Sellers, please don’t wait until spring to list your house at the SAME time as everyone else! Inventory is historically low so list now while you can be a real stand out in the market. Chances are you will bear a higher price as well! The Metrowest market is a popular market that’s constantly strong and growing. Due to the fact that we have 3 major highways that touch Metrowest, it is a popular spot for commuters to Boston and Worcester alike. Metrowest real estate is also a great investment! Heidi Zizza, Broker/Owner, mdm Realty, Framingham, MA
High demand, low inventory and continued low rates create a healthy and fiesty market in MetroWest! Investors still have great opportunities with multi-family properties and first time buyers who didn’t take a break this winter were able to achieve their housing goals without busting their budgets. Glad to report that TRID was just a small bump in the road and had far less direct impact on the financing process than expected. Ali Corton, Real Estate Executives Boston West www.liveinframinghamma.com
At the risk of sounding like a broken record, in Winchester, Arlington, Stoneham, Melrose, and the surrounding towns, quality inventory is scarce, and when it hits the market it’s scooped up within days. Buyers must be crystal clear about what they want, and then develop the stamina of a marathoner. They must be willing to brave packed open houses, make rapid decisions about writing offers, endure having 1,2,3,4 great offers rejected before securing a property. Sellers with quality listings are being presented with 10,12,20 offers, all over asking, all waiving contingencies, all with heartfelt letters and photos from buyers who are pulling out all the stops to get a house. As agents in today’s market one of our most important roles is to support our clients, both buyers and sellers, to remain calm and focused during the frenzy of the market. Katherine Waters-Clark, Re/Max-Winchester-Arlington
I work primarily with buyers and in towns from Bolton, Westford to Shrewsbury and even as far as Gardner and Ashburnham, when a house comes on the market and is in good condition it is snapped up quickly with multiple offers. I have had clients submit written letters with their offers to try and help sway a seller to choose them. The rates are still low and the lack of inventory on the market is making a rather difficult market to guide buyers. First time home buyers are overwhelemed with the speed things have to be done to get their offer picked. Sellers are in a good place when it comes to selling a home in this Spring Market. I just did an Open House in Metheun yesterday, I had 16 families come through and today our seller has 3 offers to choose from, this is going to be a great Spring Market. Sherry Stone-Graham,www.baystate-homes.com
The condo market in Metrowest is starving for inventory. I received 8 offers on one unit on Spyglass Hill in Ashland and a couple on a garden style unit. My open houses on Spyglass Hill have had over 25 guests. We desperately need inventory. So many buyers with so few properties is allowing sellers to possibly get more money. It’s a fantastic time to sell. Annie Silverman, Realty Executives Boston West.
I service Franklin and the surrounding area and am also licensed in RI. Right now the inventory is still low so sellers are really getting the activity they desire when priced correctly. My most recent listing had 23 sets of people through and we received 5 offers and most were over asking. Buyers are also fortunate as there was also just a dip in the financing rates. Franklin and most surrounding towns are also eligible for 0% down financing so the time is now to make the most of the Spring Market! Amber Cadaorette, Keller Williams Realty Franklin / Wrentham.ambersoldmyhouse.com
Feel free to offer your comments here or on Facebook! And good luck with your listings or buyers!