by Chrissie Lawrence
What a beautiful Fall! We just can't get over the gorgeous weather day after day. The real estate market has benefitted from the nice weather as well. We've seen a great deal of activity and our inventory levels are starting to be more robust. Our current inventory is 116 active units as opposed to last fall when we hovered in the high 80's. We have seen 65 new listings since September 1, as opposed to only 27 a year ago. The increase in available homes for purchase will bring out more buyers, but may have some modest downward pressure on the high closing prices we have enjoyed.
Wellesley Single Family Units Over 6 Weeks Beginning September 1
No downward pressure to be seen yet on prices in the lower end of our market! The activity below $1.0m has been incredibly active with buyers flocking to good properties like kids through a leaf pile. Of the 25 properties listed under $1m since Sept 1, 10 are already under agreement. There have been many, many instances of multiple bids. For closings since September 1, sales prices are on average 6% over asking prices with some transactions hitting 20% above. So if you are thinking of selling in this price range, let's get going! If you are thinking of buying in this price range, let's get organized - you'll need to present your very best offer to secure your dream home.