In our last few blog posts on this issue, we’ve been hesitant to pop the champagne bottles and fully celebrate the increased inventory we’ve been seeing this spring. All we really had to compare it to was last year’s dreadful winter, and we just didn’t want to get our hopes up. But this month, there’s no denying that the solid upswing in the number of single family homes for sale in Middlesex County is positive news for the market. Even with more homes for buyers to choose from, demand is huge, and bidding wars are still the norm in the Boston market’s most popular neighborhoods, like Cambridge, Newton, Lexington and Downtown Boston.
“Nearly every offer I’ve written in the last two months has gone into a bidding war,” said Cambridge/Somerville Agent Matt Zborezny, “The best piece of advice I have for my clients is to pull out all the stops you’re willing to pull.”
“What’s frustrating for the average home-buyer is that a lot of the buyers and investors you’ll find yourself up against are willing to offer tens of thousands of dollars above the asking price, often for all-cash, and remove inspection contingencies, which we wouldn’t normally recommend doing,” said Matt. “I’m optimistic that over the next few months, the appetites of the less risk-averse buyers and investors will be satisfied, and there will be more opportunities for regular home-buyers to win out with more standard offers.”
For a complete picture of the Boston area market’s most recent stats and trends, download the Redfin Market Report here: Redfin-Boston-Real-Estate-Market-Report-April-2012.