2016 could be your last chance to list your Boston home for sale in our area's sizzling seller's market. If you've been contemplating a move, now is the time to sell your home and here's why.
Low Inventory
As you may be aware the Boston area real estate market has suffered from a severe shortage of homes for sale since before the end of the last recession. What's so exceptional right now is that inventory levels are so low that an era of extreme low inventory has been ushered in. Under these conditions sellers can continue to look forward to increasing home prices and intense buyer competition. How long the market will remain this heavily skewed in favor of sellers is unknown, but rest assured nothing is forever.
What Makes Times Of Extreme Low Inventory The Perfect Time To Sell?
Thinking in terms of basic economics and the law of supply and demand, the number of interested buyers shopping Boston's housing market right now far exceeds the inventory of available homes. This is excellent news for sellers because they can expect multiple offers on their homes (provided they are properly positioned in the market from day one) and fierce bidding wars which drive up the final sale prices of properties (meaning that sellers garner the highest and best return on their investments).
What's Causing The Increase In Demand For Boston Housing?
- Years of low housing inventory has created a backlog of pent up buyer demand.
- Mortgage interest rates remain incredibly low and the Federal Reserve has hinted that in the face of financial market volatility owing to the UK Brexit vote that it isn't likely to raise rates anytime soon.
- First time homebuyers are entering the market to avoid skyrocketing apartment rent increases.
- A robust economy and a strong jobs market in the Boston area dont hurt either.
Bottom Line
If you are debating selling your home and want to evaluate the options you currently have, please call on me and the Unit Realty Group team. We can expertly help guide you through the process.
Only real estate professionals who are members of NATIONAL ASSOCIATION OF REALTORS® may call themselves REALTORS®. All REALTORS® must subscribe to NAR’s strict code of ethics, which is based on honesty, professionalism and the protection of the public.