In going through the current statistics for the towns of Scituate and Cohasset, one point became increasingly clear. The absorption rate is currently 5 months! A 6 month rate is considered a "balanced market". Under that, a seller's market....
The inventory in these towns remains very low. Much lower than the normal holiday low. I would expect that the homes that were temporarily withdrawn will be coming back on shortly. As for actual sales, they have been better than '08 - just slightly. The average home price dropped, of course, but our areas have been seeing stability since last year. Correctly priced homes have been selling briskly.
While I would NOT consider this news that the tide is changing to a seller's market, it is still a great sign. It will still take awhile to get back to a "normal" market pace, but we are getting there.
Sellers need to know that right now would be a great time to consider putting their home on the market. The currently lack of inventory and a very well priced home WILL = a fast sale!
In an effort to further attract home sellers, we have launched a Sell For 3% campaign*. This rate is only for a limited time! Home owners in this area typically pay anywhere between 4% to 6% for the services of a Real Estate Company. Half of the commission goes to the listing agent, and the other half to the buyer's agent (sometimes, one and the same). Sellers trying to avoid paying this sometimes hire what is referred to as an Entry Only company. Essentially, a company that will put your home information on the Multiple Listing Service. Nothing more, nothing less. A flat fee is charged, and the owner STILL has to pay @2 to 2.5% to the buyer agent AND schedule showings/open houses AND take their own pictures AND place their own ads and/or post information online. Studies have shown that most FSBO's give up after 45 days. Our offer is for FULL service from launch to the closing table!
Call me today for the details - *some restrictions apply. Click here to view the slide show.
If you are currently under contract with a different Real Estate Firm, please disregard this offer.
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