Last week I did an analysis of the current Natick Real Estate Market. One of the items on that analysis was the number of Active Single Family homes on the market in Natick. The number was 126.
So I thought it would be interesting to take a look at what that number was a year ago....are you ready? It was 173. That is a signifigant reduction in inventory.
As I recall from prior to 2006 the average inventory of single family homes in Natick was around 100.
This is good news for sellers....less competition. But it is indicating that while we are not in a Sellers's market, the Buyer's Market is winding down. Maybe it means a more "normal" market where homes sell but not in the frenzie of earlier years. This gives buyers a chance to take more time in making a decision. I think a big factor in this change is Seller's are being more realistic when pricing their homes. An asking price for a new listing today is much closer to market value than a year ago.