Strong demand and still limited supply have left us stumped as to why potential sellers continue to remain on the sidelines of the market. Every month since June, we have written about the shortage of houses for sale in Wellesley, the speed at which Wellesley homes are going under agreement and the larger number of buyers combing the Wellesley market. It's a phenomenon the entire greater Boston area is experiencing - today's real estate market is clearly a seller's market. Yet we hear story after story of families hesitating to list.
The Boston Globe recently profiled three families who delayed selling their homes, becoming more and more cramped in their current houses, only to discover the selling process was quick and quite profitable. In each case, the family received multiple offers, above listing price, within days of listing. Wonderful success stories for families who could have enjoyed moving to roomier homes so much sooner.
According to the Massachusetts Association of Realtors, "Despite regular reports of multiple offers and bidding wars, new listings have risen only slightly over the past year, far from enough to keep up with surging demand." If you are considering a move, whether to accommodate your growing family or to downsize, take advantage of the surging demand. Benefit from the seller's market!
There is an art to choosing the right price at which to list your home, even in a seller's market. Contact us to talk through the best listing price for your house and the steps to put it on the market. You may be surprised at how simple and profitable moving off the sidelines may be.