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Local Stats Show Record Number of Homes Getting Over Asking Price

By
Real Estate Agent with William Raveis, Wellesley MA 9057816-S

Right now, the local market is very hot. There is a limited number of homes for sale and when they are listed, they sell in days and for more than their asking price. This is excellent news for sellers.

Look at these stunning statistics:      

+ In Q1 2013, 34 homes in the $300,000 - $1 million price range were sold. Only three of them got over the asking price (

+ To date in 2014, there have been 38 listings in the same price range and 16 (or 42%) got over the asking price. 

But, even homes that aren’t in this price range are selling for more than their asking price. These statistics are from Natick:

+ Between January and March of 2013, 54 homes were sold in Natick in all price ranges, 8 of them got over their asking price.

+ In 2014, to date, 42 homes were sold, 16 of them got over their asking price.

These numbers prove that market conditions right now are ideal for sellers, so now is the time to list your home. 

Our Agents have Seen This Market in Action

Our agents at Christine Norcross & Partners (CNP) have seen this market in action and can tell you just how good it is right now. 

We worked with a homeowner to list his Natick home for sale. He had four appraisals and ours fell in the middle of the price range. When the homeowner listed the home at our price, we got multiple offers for more than the highest amount the homeowner had been quoted. With the right price and in the right market, we ended up getting higher than the listing price and higher than what the homeowner was looking for. 

Another seller we worked with listed her property slightly higher than its appraised value. We worked with her to get the home in perfect condition so it would attract buyers and offers. We staged the home and hosted Saturday and Sunday open houses, which attracted a total of 50 to 60 attendees. With this approach, we also got multiple offers over the asking price.

The best strategy is to price a home absolutely right and then back off a little. This creates a feeling of urgency, encouraging buyers to bid it up to the right price level. There is pent up demand and lots of buyers in the market. In our experience, we have seen that sellers who list their home at a "test" price end up missing opportunities and losing buyers.  The buyers will “wait” you out.

Currently, the Natick real estate market is very active and average home prices are rising. The market will start to level out as more homes are listed, due to supply and demand, so now is the time to list your home for sale. 

It pays to work with an experienced agent, especially in these market conditions. Buyers benefit from agent representation so they won’t lose opportunities to agents who are following the market every day, know current prices and who guide their clients.

We just had two buyers win in multiple bid situations. We know what to do. We have an experienced team of five full-time agents who follow the market, preview the homes and stay in tune with the economy and its changes. You can find out more about current market trends at the Christine Norcross & Partners website.

To list your home for sale or put an offer on a home in the Natick or Wellesley area, call Christine Norcross & Partners today. Good homes and prices in this market are going under agreement in "days" not weeks or months. You can reach Christine Norcross at 781-929-4994 or Stephanie Parkhurst at 617-610-2537.

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