For some sellers, the early roll out is the gift that keeps on giving, complete with bidding wars and inflated prices. Price range plays a big role in the story, though. A slew of new listings in Wellesley under $1.5M came on late last week, and by Sunday, sellers were staring down as many as 10 offers--with the majority well over their asking price. One broker shared that she had 100 groups come through her new listing that was priced around $1.2M. Let's hope safety protocols were used there :) While bringing a buyer to a showing on Wednesday night, we waited in a long line with numerous other buyers wanting to take a look inside. Compared to the under $1.5M set, the higher price ranges aren't nearly as brisk. This does make sense though when you look at the law of supply and demand: since lower ranges are more affordable to a bigger pool of buyers, the demand is stronger.
There are no indications from economists that the market will slow down. Even a slight tick up in interest rates typically doesn't deter buyers in our area.
