I have that overwhelming feeling that comes with this time of year. This season feels a little different though. The pace is the same as other years, it’s busy with showings, inspections listings, and feels like a marathon to get to summer when things slow down.

As you know there are fewer listings than what is needed for a balanced market, and that brings on the bidding wars. If a house is slightly underpriced for the demand there are typically 6 or more offers received. Even when there are less people in the battle, the end result can be just as impressive with one person stepping out and offering 5-20% over asking to just “shut it down” and take the home off the market. Perhaps online betting can move into housing! We can take bets on which houses fetch a new record setting price, which don’t, and what those prices will be.

At the same time, there is a feeling of change that’s in the background. There are a handful of properties coming on that don’t sell in just days or hours. A sign perhaps that there is a slight shift in market patterns. I don’t think this indicates prices are coming down, but you have to price thoughtfully from the start. Inventory is building ever so slightly as you can see from the weekly numbers, yet sales are still outweighing new houses that are being introduced.

Following the market, and in my case living it daily, isn’t for the faint of heart. It’s a moving target and quite exhausting to chase for everyone- buyers, sellers, agents, inspectors and mortgage brokers. The end game can be exhilarating, but you need to be determined to get to the finish line.

I am excited to be helping the "cause" and proud this week to have introduced 144 Oakland Street, Wellesley which is a one of a kind property complete with a barn, extra lot and sweeping views of Centennial Park. 88 Audubon, Wellesley is coming soon and offers a really cool modern twist on like new construction. Happy to share more if you want to reach out.

144 Oakland Street, Wellesley

Coming Soon:

88 Audubon Road, Wellesley

Finally, my dear assistant Elise is leaving to go into the medical field. She’ll be tough to replace, but it has to be done. If you know anyone who is an organized, positive, and hard working person with an interest in real estate, please send them my info. Looking to fill the job ASAP.

 

Have a great week! Hope you are enjoying the warm weather!

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.