It's the first time in a very long time that I can say...business is slow here in Wellesley and Weston. What does that mean exactly? Well, it means in my world there are plenty of buyers waiting for that perfect house to come on the market, but nothing does. Each day real estate agents and buyers are checking and rechecking their computers hoping some new inventory will pop up, and it isn't. It is such a good time to put your house on the market in Wellesley and Weston Massachusetts. When I tell clients and friends they say, "but there is no place for me to go." I see the dilemma for sure.
So why aren't people putting their houses on the market?
I guess I answered the first part to that question for those trading up in the real estate market. They are afraid they won't have somewhere to go, although the bulk of our inventory is that $1.5M and up range, they should be able to find a house to call home. That market has not seen prices rising- that is still a price sensitive market and you can find some good values.
For those sellers who dream of downsizing- there is truly a dilemma. The $1M and under price range is nearly non existent so there truly isn't a guarantee those downsizing have a house or condo to go to. There are 5,6 and sometimes 15 offers on each property under $1M that comes on the market. Land is the same way-- many offers and not much of it.
So where do we go from here? We thought the fall would be great, and so far it has disappointed us. Maybe the spring real estate market in Wellesley and Weston will surprise us and start early after the new year. It all remains to be seen.
I find this slow market tough...there is nothing new to call clients about and I don't want anyone to feel abandoned. I know the feeling when you want to move and can't find the right place. Frustrating for sure...
Realtors aren't the only ones feeling the slowdown...attorney's, banks, mortgage brokers and even our lovely floor plan woman is slow right now. As I always say the market is greater than us all!