Starting the New Year with a Tight MarketJanuary 27, 2018
It typically takes a couple of weeks after the first of the year for Boston luxury homes buyers / sellers to get into the mind set and start thinking of real estate. But this isn’t a typical year. Buyers and sellers are more anxious than ever in the new year, trying to buy/sell their Boston luxury real estate and move on. This ambition could be attributed to a strong economy, strong stock market and rising interest rates in the near future.
Unfortunately, the Boston luxury homes inventory is still very limited. But buyers who have been hoping and waiting for new listings are getting impatient, and are more realistic about the market conditions and getting more creative.
What seemed to be a long “wish list” is getting shorter. With very little on the market, Boston luxury homes buyers, tired of waiting for the perfect home, are now willing to trade off a few things in order to buy a property, settle down and not wait any longer.
Real estate agents are seeing a lot of activity in the Boston luxury real estate market this early in the season, which is quite unusual. The spring home market in Boston generally starts the second week of January, but it takes a few weeks thereafter for buyers or sellers to start their search. Now, it’s the exact opposite.
Having been looking for a long time and waiting for THE property, buyers are no longer patient and want to buy now. In the past few months, many luxury properties have been sold off the market. Putting the right buyer in touch with the right seller takes “savoir-faire”, experience and knowledge of the market on the broker’s side. It takes a savvy real estate agent to navigate the current, tight market conditions.