Happy New Year! I am excited to start up our weekly real estate market update. While it was a little bit slower towards the end of fourth quarter as people hunkered down for the holidays, there were still houses selling and far outpacing the number of new listings presented.
At 5:30pm on New Year's Eve I sat down at my computer to put together an offer on a property. Hours later, my buyers had put it under agreement and were able to start off the new year with a beautiful piece of land. A great way for everyone to start 2021!
I am coming off a busy weekend of showings with buyers, and at each new property we visited, Realtors are reporting more than forty showings (yes, forty!) over only two to three days and upwards of ten offers. These were houses in Natick, Wayland and Weston. The Weston property was priced above $2.5M, so the incredible demand reaches across all price ranges in our region.
Will this rush continue? I really think so. While rates may tick up a little bit this spring, we don't see that affecting the incredible demand for homes. Typically right after the holidays, there is already a pent up demand for houses--so that, coupled with the increased urgency that was brought on by the pandemic, leads me to believe that it's going to continue to be a mad rush.
Even available rentals are at an all time low. On the Cape especially, the rental market is very tight-- the reason being that many renters last summer ended up buying the houses from their landlords. Realtors there are struggling to find vacation homes for their clients.
Amy and I are working on a number of great listings to be released in the coming weeks and will keep you updated. Time to get back to work and we can't wait. Continue to be safe, Covid is still out there and we can't wait to shake your hand or give you a big hug in the future after the vaccine kicks in.