Record Growth is Just the Beginning
If seeing a record-low supply wasn’t already clear, we’re now in a world where buyers have even offered to name their firstborn child after a seller.
Less surprising, home prices in March were 13.2% higher than the same time last year, according to the S&P CoreLogic Case-Schiller National Home Price Index.
It’s hard to imagine just one year ago, at the height of the pandemic, a common sentiment was that we would see buyer’s market in 2021.
Hindsight is always 20/20 though, isn’t it?
Instead, as proven in the first line above, competition is more fierce than ever. It’s really become a seller’s market.
The convergence of low supply, an increase in remote work making more people location independent, and a slew of other factors are fueling bidding wars across the country.
As another example, a CBS article recently highlighted a buyer purchasing a home in Seattle for $400,000 above the $725,000 asking price. Sight unseen!
Seattle, is one of the top three cities in terms of price gains. The other two: Phoenix, AZ and San Diego, CA.
That said, we know ‘home’ means far more than a price tag. When the dust settles, it’s an essential cornerstone of our clients’ daily lives.
At The Homes North of Boston Team, we understand the importance of educating our clients so they are prepared for this market. Our team of experienced local professionals are armed with techniques to get offers accepted without giving up your first born! Reach out to us today to schedule a FREE Buyer Consultation with no obligation. We are here to help you! Click on our team schedule to select a day time that works best for you.