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Home Sellers: This is Your Perfect Storm

If you caught the Boston Globe article this past weekend, Local Housing Market Desperately Seeking Sellers, you might think that we've been sitting around hoping for the phone to ring.


Quite the contrary. 

If you look closely at the photo in the article, you'll notice the BOWES logo in the background, and the listing the couple is looking at was ours - I say 'was' because it sold the first weekend it came on the market.


The Home Advantage Team has been busy. Really busy, selling 2-3 homes per week, or one home every four days, for another perspective. One home sold. Every four days. Since January 1st. And it's not even officially the spring market. 

Based on MLS data, we're selling homes faster and for a higher price than all other agents in Arlington:


(Jan 1 - Feb 28, 2013)*
Days on Market
Avg. List Price 
Days on Market 
Avg. List Price 
Steve McKenna & 
The Home Advantage Team
All other Arlington Agents 
*Properties in Arlington Under Agreement / Sold

The Globe article is correct in that low supply and high demand levels make it challenging for antsy buyers who are ready to make a move. In my 27 years as a real estate professional, these are some of the lowest inventory levels I've seen - and yet we are as busy as we've ever been. Why?

Because this is the perfect storm for sellers.
1)There is a deep pool of qualifiedbuyers that are tired of waiting
2)Interest rates are at historic lows (for now)
3)There is limited competition (for now)

Real estate is a market where timing is everything. There have been times when interest rates were low. There have been times of limited competition, and times with plenty of buyers. But it isn't often you have all of these factors coming into play at once.

No one knows how long interest rates will stay this low, or when housing prices will peak. But we do know that with the spring market comes more competition. Sellers that have been hesitant to pull the trigger and put their homes on the market may find themselves fighting for the attention of buyers - rather than handling multiple offers and quick sales.

So yes, we're busier than George Clooney trying to find Swordfish off the Grand Banks, but there's plenty of time (and opportunity) to beat the spring rush and catch the best price for your home.

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