Luxury Market report for the Boston Area over the last week is in. What we are seeing is days on market go down. This is a great thing. It means the buyers are ready to move on a property if said property is priced right. The other aspect of pricing right is marketing the property in the right manner. It is no longer enough to put the property on MLS and have the system aggregate the listing to all the social media, consumer sites like Trulia, Zillow, Realtor.com and others. The best agents know how to sell lifestyle and they have the ability to create a lifestyle story around your property.
Luxury Market Boston Area Move In homes
In the luxury category almost all the houses are in great shape. Almost all the houses in the luxury category have very nice amenities, but they differ from house to house. Some people will have pools, some people will have media rooms. Your clients will have their needs and wants. It is not difficult to change any luxury property to add or delete any amenity. As the detail on the right shows the average price for a luxury property has been rising over the last couple of weeks. These prices are on closed sales which is always the most accurate measurement of what is going on in the area.
Luxury Market Boston Area Move In homes
Luxury markets do not work in the same way the regular real estate market works. Buyers and Sellers of luxury properties have different criteria for a successful transaction. They expect that the agent has unique skills related to the sale or purchase of a luxury home. The demand that the agent have specialized skills in negotiation, pricing, and marketing of a property. Not all agents are created equal, even those who have been in the profession for a long period of time. Storyteller Marketing is a brand of marketing that tells the story of the property, the lifestyle and the community in such a way that brings more traffic to the property. More traffic to the property means more potential buyers for your property. More buyers means a potential bidding war for the property and that is how the prices are rising right now.
As you can see the inventory is down which is another reason prices are going up. Low inventory means more competition. In the last couple of days we are seeing more people come on the market with their property in an effort to cash in on the market conditions. It is always difficult to time any market, but these indicators show that now would be a time to sell. If you are looking to trade up, if you are looking to trade out and downsize it is a good time to make a move. This has been the Luxury Market report for the Boston Area Late May 2014
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