In the first half of 2015, properties around Boston seemed to sell almost instantly upon being listed. Let's take a closer look at that.
Here's one example: 73% of the 227 condos sold in Brookline had an offer within two weeks of being listed! That indicates a surplus of demand, or a shortage of supply, and can be expected to result in bidding wars and rising prices.
This makes a challenging environment for buyers. You need to fall in love enough to make an offer, but not so much that you can't walk away if the price gets bid up beyond your comfort.
For sellers, too, it's important to note that overpriced properties seemed to linger on the market, and worse, get bid down. That's why in-depth research by your agent is so important before you set a price.
Here are some town-specific overview reports (PDF):
Would you like more details on a specific neighborhood and property type? (For example, 3-bedroom houses within walking distance of Coolidge Corner.) Please let me know and I'll add it.
Also, do you know anyone interested in buying or selling a home in the next two years? Give me a call, I'd be happy to help. (508) 335-1644
Questions? Email me and let's set up a time to discuss your real estate needs.
AVI KAUFMAN is a top broker who lives in Brookline, Massachusetts and works there and surrounding communities, assisting buyers and sellers of residential property. He is building a unique practice dedicated to serving the best interest of his clients - see how he's different.