And so it continues.....a flurry of activity in our markets as people scramble to get into their new homes. I had clients look at an adorable house for $650,000 in Sudbury that ended up with nearly ten offers on it(in one weekend,) wow! Across the board, the number of homes going under contract is still outpacing new listings. Come on sellers, if you are even thinking of moving now is your time to take advantage of what the market needs- more houses. The supply is low and the demand is high.
In Wellesley, there is a new townhome development on Great Plain Avenue called Fieldstone Way, https://www.pinnaclehouses.com/FieldstoneWay-Wellesley In two months, 11 of the 13 have sold. Phase II, with larger three bedroom homes, is scheduled to be released to the market in October. As the broker who is selling the units said, the brisk pace of these sales tells the story of the market.
Rates are still super low and my buyers are very happy with that. If you want to refinance it's not always as enticing as banks try to discourage refinancing with higher rates. It seems to be working.
Schools seem to be somewhat secure with their initial reopening plans. Most of our schools (public and private) have chosen a hybrid model for now. Of course, as we know, the situation is fluid and that is always subject to change. Schools are another thing I am constantly monitoring with three children in three different schools.
What a beautiful week of weather we have had! I hope you have been able to enjoy it. Being outdoors always calms my nerves.
Be safe and well. Until next week...