2021; how do you time this market?
As we step out into a still-evolving post-pandemic world, the pent-up demand for homes combined with historically low interest rates and an extreme lack of inventory means that if you’ve considered selling, this might be the right time.
-Buyer demand, especially in the suburbs, is at an all-time high despite the challenges that the coronavirus has created. Also, the safety precautions that many Realtors have put into place on showing their listings have re-assured buyers that it is reasonably safe to view properties they are interested in.
- The time needed to sell a property has will continue to decrease, and once again new listings coming on the market will be priced with the expectation of receiving multiple offers. You'll still see a few homes being overpriced and listed with the expectation of multiple offers but wind up with no offers by the offer deadline. This scenario presents an opportunity for interested buyers that don't want to deal with competing offers if they make an offer right after the offer due date if there are no offers on the table.
- The long-term outlook for property owners in the Greater Boston area is excellent. Assuming that mortgage rates remain at or near historic lows, and the economy continues to recover, I would expect an extremely robust market to last well into the winter and even the spring of 2022. Low rates translate into affordability, and when that is combined with the natural pent-up demand that the virus has created by preventing the normal course of home buying and selling, it seems reasonable to believe that the real estate market will see a significant benefit.
It’s definitely not business as usual these days, and if 2020 proved anything, it is that we can get through difficult challenges. We are tougher than we think, and each of us are living proof that we are all resilient and tougher than we think when faced with difficult situations. Is is my genuine desire to be your trusted, life-long Real Estate advisor, so if you'd like some solid market information and sincere advice, just pick up the phone, give me a call and we’ll get the conversation started!
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