In Massachusetts a combined 15 Towns of Metrowest (see my blog) the active homes on the market is down 21% from the same time last year.
With consumer confidence back and interest rates low this has created a Sellers Market in many parts of the country. Locally homes priced well are selling in a few days and often with multiple offers and over asking price. Prices are rising!
When will the inventory rise? It’s hard to say but I believe many homeowners who wanted to sell over the past several years were unable to due to their homes value having dropped to below what they paid or owed on the home. As inventory has shrunk and demand risen prices are increasing. This will eventually bring these homeowners back in to the market.
When you are buying a home or selling a home start by working with a seasoned real estate professional who will keep your best interests at heart! I have helped home buyers and sellers for over 25 years. I’ll be there for you throughout the entire process! I can also refer you to reputable mortgage lenders, home inspectors and contractors.
Hopkinton, MA Real Estate Expert
RE/MAX Executive Realty