Massachusetts Realtors Outline Competitive Spring Market

Massachusetts Realtors Outline Competitive Spring Market

Homes are expected to sell quickly with market inventory still dwindling, says the head of Mass. Association of Realtors



IN SEARCH OF HIS DREAM HOME. >> WANT A LONG STORY? >> COMMUNITY COLLEGE PROFESSOR KRISTI GLOVER SWA NOT ASKING MUCH IN NEW HOME, SHTOR SWITCHES RIGHT TO PAN FOR HIS FAMILY. >> I WOULD LIKE SOMETHING SMALLER THAT WILL BE MORE MANAGEABLE FOR ME AND MY KIDS. SHAYNA: IT TOOK A LOT TO LAND HIS CHILDREN’S HOUSE. >> I’VE GOT AS FAR AS SOUTHBRIDGE, AUBURN, CLINTON, HOLDEN. EVEN LEOMINSTER. THERE ARE SEVERAL TIMES I THINK INK MIGHT HAVE CRYED A LITTLE ESPECIALLY WHEN YOU FALL IN LOVE WITH THE HOUSE. THIS HOUSE IS SO PERFECT FOR ME. SHAYNA: REAL ESTATE AGENTS SAY SHE’S NOT ALONE ON THIS JOURNEY. >> WE HAVE MORE DEMAND FOR HOUSING IN MASSACHUSETTS THAN WE HAVE SUPPLY TO FILL. >> DON AS 2022 PRESIDENT OF THE MASSACHUSETTS ASSOCIATION OF REALTORS. SHE SAYS NO SURPRISE, EXPECT A LOT OF COMPETITION THIS SPRING. WHERE ARE THE HOTSPOTS AND WHERE DO PEOPLE DIE TO GET IN? >> ANYWHERE WHO HAS A HOME. THIS IS THE HONEST ANSWER. SHAY:NA HOUSING INVENTORIES I DOWN. REALTORS GROUP DATA SHOW THERE WERE 10,000 HOMES ON THE MARKET AT THE END OF FEBRUARY 2020. THAT NUMRBE DROEDPP IN 2021 AND 2022. IF TAYOD ADS BUT SALES ARE FAST. >> HOMES DON’T STAY ON THE MARKET LONG SO IT LOOKS LIKE THERE IS NO INVENTORY. SHAYNA: THIS FEELING HELPS UP THE PRICES OF PHUS HOUSES. IN FEBRUARY 2022, THE AVERAGE PRICE OF A HOME IN MASSACHUSETT WAS $45,000 HIGHER THAN THE SAME TIME IN 2021. FOR CONDOS, THE MEDIAN PRICE IS $450,000. MORE THAN 25,000 FOR ONE YEAR. SHE SAYS WITH HOMES ABOVE ASKED PRICE, POTENTIAL AND EETO BUYERS ARE PREPARED. >> THE FIRST OFFER THEY MAKE MAY BE THE ONLY OFFER THEY MAKE. YOU MUST KEEP YOURSELF EMOTIONALLY TO ENSURE YOU ARE NOT EMOTIONALLY BUYING. SHAYNA: TO GET A SENSE OF THE MARKET, WE ASKED REAL ESTATE AGENTS AND A3 COMMUNITIES TO SHOW US PROPERTIES. IN BROOKLYN, THIS TWO BEDROOM, TWO BATHROOM COMBON O LONGWOOD AVENUE WAS LISTED FOR OVER $1 MILLION IN MARCH. . THIS IS HIGHER THAN THE MEDIAN CONDO PRICE. >>THIS IS AN EXCELLENT LOCATNIO SHAYNA SHOULD: THE KITCHEN IS RIGHT AT THE ENTRANCE AND LEADS TO THE OPEN DINING ROOM AT LNDIVING SPE.AC THE REALTOR SHOW US AROUND. >> IT’S GOOD AS THE ROOM AREAS ARE OUTSIDE THE COMMON AREAS. SHAYNA: IN THE MASTER BEDROOM, THERE IS A LOT OF STORAGE SPACE. >> THIS IS A VERY LARGE. SHAYNA: THIS LIST HAS AN UNUSUAL STORY. >> THE SELLER HAD NO FAMILY ATLY THE TIME SHE WAS SPENT AND SO ALL PROCEEDS FROM THE SALE WILL GO TO CHARITY. SHAYNA: NOW AT WESNET WTON. THE SINGLE-FAMILY HOME HAS BEEN LISTED FOR $829,000. BELOW THE MEDIAN PRICE FOR INDIVIDUAL FAMILIES IN THE CITY. REAL ESTATE AGENT MELANIE INTRODUCED US. >> THIS IS A PERFECT STARTER HOUSE. IT’S SMALLER BUT ENOUGH SPACE. IT’S ALMOST 1600 SQUARE FEET. SHAYNA: DOWNSTAIRS LIVING ROOM, DINING ROOM AND AN UPDATED KITCHEN SHOULD >> THEY HAVE REPAINTED THE CABINETS WHITE. THE ADDITION OF THESE MAGNIFICENT COUNTERS. SHAYNA: UPstairs, THREE BEDROOMS AND THE ONLY BATHROOM. PLUS, A NESTLED IAN LANDING WORKSPACE AT THE TOP OF THE STAIRCASE. >> LIVE COVID. SH: NAAY OUTSIDE ENJOY THE SUN ON THE TERRACE OVERLOOKING THE NEARLY 70 50 SQUARE FEET COURTYARD. >> THIISS PRE-MUCH A DREAM FOR SPRING AND SUMMER LIVING SHAYNA SHOULD: WE HAD TO DISCOVER A COLONIAL THREE BEDROOM AND TWO HALF RMS.OO LIST PRICE, 549,000. MEDIAN PRICE FOR A SINGLE FAMILY IN WORRSTCE, 389,000. >> IT’S THE OPEN CONCEPT. SHAYNA: RLTOREA TIM KNOWS WELL IN THE NEIGHBORHOOD. >> THE NEIGHBORHOOD WE ARE IN IS HIGHER. IT IS FULL OF HISTORIC HOUSES. SHAYNA: THIS HOUSE IS AN EXCEPTION. IT WAS BUILT 12 YEARS AGO. >> EVEN THOUGH IT WAS BUILT IN 2010, IT HAS TAKEN A LOT OF ATTENTION TO DETAIL TO MAKE IT IN COMPLIANCE WITH OTHER DRIED PROPERTIES IN THE ETH SHAYNA NEIGHBORHOOD:. ON THE SECOND FLOOR YOU WILL FIND AN OFFICE IN ADDITION TO THE THREE BEDROOMS. >> NOW PEOPLE HAVE NO PROBLEM LIVING AWAY FROM THEIR OFFICE SPACE AND THIS HAS BENEFITED WORCESRTE IMMENSELY. SHAYNA: IN THE END, KRISTI FOUND HER NEW HOME. IT’S IN WORCESTER AS SHE HAD HOPE. >> AFTER SEVERAL MONTHS AND PROBABLY AT LEAST SEVEN OFFERS, I FINALLY GOT AN ACCEPTED OFFER. SHAYNA: IT’S ON MALDEN STREET, THE SAME STREET WHERE SHE FOUND THE FIRST HOUSE SHE BID ON. >> THIS WILL FEEL LIKE OK, WE HAVE HREOME. ANTHONY: YOU WILL NOT BE SURPRISED TO KNOW THAT THE THREE HOUSES SHAYNA SHOWED US WERE UNDER CONTRACT SHORTLY AFTER SHE TRIPED THEM. THE AGENT SAID SELLERS RECEIVED SEVERAL OFFERS AND FOR THE HOUSE IN WORCESTER, ALL OFFERS WERE ABOVE THE ASKING PRICE. WERE ABOVE DEMAND WHILE THE MEDIAN HOME PRICE IN MASSACHUSETTS IS $510,000, PRICES RISE RAPIDLY THE MORE YOU MOVE TOWARDS GREATER BOSTON. ETHED MIAN RP

Massachusetts Realtors Outline Competitive Spring Market

Homes are expected to sell quickly with market inventory still dwindling, says the head of Mass. Association of Realtors

Real estate agents expect the spring 2022 home sales market to be competitive. Dawn Ruffini, 2022 president of the Massachusetts Association of Realtors, said there are more buyers than sellers, which means most homes don’t stay on the market very long. Data from the Realtors Group shows there were 10,057 homes on the market at the end of February 2020, up from 2,349 in February 2022. To get a sense of the market, Chronicle visited homes with realtors in Brookline, Newton and Worcester.

Real estate agents expect the spring 2022 home sales market to be competitive. Dawn Ruffini2022 president of the Massachusetts Association of Realtorssaid there were more buyers than sellers, meaning most homes don’t stay on the market very long. Estate agents group data show that there were 10,057 homes on the market at the end of February 2020, compared to 2,349 in February 2022. To get a sense of the market, Chronicle visited homes with real estate agents in Brookline, Newtonand worcester.

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