Spring Real Estate Market | It’s Hot in Winchester MA!
Spring market is the time of year when buyers focus on house hunting. It feels great to house hunt in the spring because homes look so much better in Spring than Winter with green grass and flowers. Buyers with children focus on house hunting at this time of year because they can close in the next 60-90 days after the school year ends and enjoy the summer in their new backyards!
We have all grown to expect that Spring market is always the beginning… But just like the weather we had this past Winter, Spring 2012 is different than those of recent memory…
- Because of the warm weather we experienced here in the Northeast this past winter, buyers have been out for months – making offers and buying homes.
- Many sellers have finally come to understand that they need to have a compelling price on their home to attract buyers. The days of listing your home and negotiating down are over because there are homes on the market already priced correctly, and those are the homes that buyers are going to. The overpriced inventory doesn’t even get their chance to negotiate down.
- There were a few weeks towards the end of Winter with everything was hot, even properties that had been on the market all Winter because inventory was unusually low.
- The volume of buyers over the past 4 weeks visiting our Open Houses has consistently been 30-50+ groups.
- Rates have ticked up as economic news (like unemployment numbers) has improved. That, coupled with rising mortgage insurance premiums and guarantee fees, seems to have given some sense of urgency to buyers.
The next 60-90 days are going to be exciting. My advice to anyone looking to buy or sell is that waiting to be aggressive could be a fatal mistake if you hope to find the best deal. From my experience, the best deals come when more people are competing for them…and that time is NOW!