As home buyers seek head out to buy homes in today’s market, more often than not, they will be confronted with multiple offer situations. Homeowners appear unconvinced that listing their property “NOW” will benefit them.
In the coming months, more properties will hit the market and with that comes competition for homeowners that may impact sale price. Right now, offers being presented are driving up sale price, and in some cases 3-4%. In a recent case, this may increase an offer price by $25,000-35,000.
I’ve included three charts depicting available properties in several towns. Keep in mind that multi family homes aren’t numerous in Newton, Lexington or Winchester, so seeing less than “5 or 0” isn’t uncommon. The apparent sweet spot list price for home buyers in Lexington is $600,000-950,000 – the current available homes in this range is “12”.
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