If you are like me, then you are feeling good that summer is officially here. I love the warmer weather and the outside living that comes with it. Summer routines (or lack thereof) seem to be in full swing. My youngest daughter is back in the gym practicing gymnastics and my other two daughters are piecing together work- "serious" tasks are sandwiched between their good times.
Out and about, it's quiet, but that doesn't seem to be COVID related. People who have second homes have gone out of town or people have ventured out on vacations. Very typical for this time of year.
BUT on the real estate front, there is nothing typical about what we are seeing. As we head into the July 4th week, we continue to have a significant amount of new inventory hit the market and a strong number of houses going under agreement. No signs of slowdown folks! Of the 10 homes that went under agreement this week in Wellesley, there was a house listed at $8,995,000 that sold in mere days. In Weston, one of the 9 pending sales was a property priced at $8,395,000. This home had been on before and not sold. Another property in Wellesley that was listed at $5M had about 11 showings right away according to that broker. It didn't sell yet, but seeing the interest from serious buyers is quite impressive. The high end is alive and kicking!
It continues to be brisk in other price ranges too. Nationally, the segment that is the hottest according to CNBC are new construction homes. "Sales of newly built homes jumped far more than expected, up nearly 13% annually, according to the U.S. Census." People are attracted to the clean and easy living that comes with new homes. Of course, in our area with intense town restrictions on building, lack of labor and high building costs, new construction homes are harder to come by. Builders are stuck.
As I have said before, if you are thinking of selling now is the time to list your home. Buyers are out there and ready! Our serious buyers are immediately ready to jump for the right house, at the right price.
Have a great week and enjoy this stretch of beautiful weather. We certainly earned it!