Is today's housing supply a sweet spot for sellers?

Wondering if it still makes sense to sell your house right now? The short answer is, maybe.

An article from Calculated Risk shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:

How does this benefit sellers?

1. You Have More Options for Your Move

Are you thinking about selling because your current house is too big, too small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be less of a challenge to find what you’re looking for.

So, if you were holding off on selling because you were worried you weren’t going to find a home you like, this may be just the good news you needed. Partnering with a local real estate professional can help you make sure you’re up to date on the homes available in your area. 

2. You Still Won’t Have Much Competition When You Sell

But to put that into perspective, even though there are more homes for sale now, there still aren’t as many as there’d be in a normal year. Remember, the data from Calculated Risk shows we’re down nearly 40% compared to 2019. And that large a deficit won’t be solved overnight. As a recent article from Realtor.com explains:

“. . . the number of homes for sale and new listing activity continues to improve compared to last year. However the inventory of homes for sale still has a long journey back to pre-pandemic levels.”

For you, that means if you work with an agent to price your house right, it should still get a lot of attention from eager buyers and could sell fast.

Bottom Line

If you're a homeowner looking to sell, now's a good time. You'll have more options when buying your next home, and there's still not a ton of competition from other sellers. If you’re ready to move, talk to a local real estate agent to get the ball rolling.

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Real Estate Recap: 2020 in Review

2020 was an unusual year to say the least! When it comes to real estate, we are officially in the middle of one of the strongest seller’s markets we’ve seen in years. Let’s take a look at the stats to see what that meant for the market in 2020 and where it leaves us now.

Covid took an already competitive market and pushed it further than we could’ve ever imagined thanks to an increase in buyer demand and a decrease in inventory and interest rates. When the lockdown began, many listings were pulled off the market or delayed, all while everyone was spending more time in their homes than ever before. With no where to spend their money, many people started thinking about renovating their current home or perhaps upgrading to a new one. Add them on top of the already massive subset of buyers who were ready to buy their first house (even more so now that they felt trapped in their current living situation) and you end up with a historic amount of buyers waiting to enter the market.

Finally, restrictions eased up and homes started hitting the market, but there just weren’t enough to satisfy the demand. Homes were selling left and right, often for way over asking price as buyers found themselves in bidding wars for a place to live. Let’s take a look at some of 2020’s stats to see what that really meant for the housing market:

2020 Housing Market Stats

These stats focus on the towns we are most familiar with:
Attleboro, Canton, Easton, Foxboro, Franklin, Mansfield, Norfolk, N. Attleboro, Norton, Plainville, Sharon, Stoughton & Wrentham

Single-family Homes

2020

Total Homes Sold: 2877
Average Days on Market: 44
Average Sale Price: $522,390
Sale Price to List Price Ratio: 101%

2019

Total Homes Sold: 2824
Average Days on Market: 56
Average Sale Price: $485,910
Sale Price to List Price Ratio: 99%

Condos

2020

Total Condos Sold: 1001
Average Days on Market: 47
Average Sale Price: $348,956
Sale Price to List Price Ratio: 101%

2019

Total Condos Sold: 927
Average Days on Market: 56
Average Sale Price: $309,347
Sale Price to List Price Ratio: 100%

The stats are a little surprising! Anecdotally, it felt like there were far less homes on the market last year than in 2019, but that wasn’t true. There were actually more homes sold in 2020, they just were on the market less time with a majority of them selling after their first showings or open house.

Price-wise, Massachusetts already high real estate values went even higher. Single-family homes and condos both saw about a 10% jump in values! On top of that, the average sale was closing for 101% of the list price (asking price). There were a lot of happy sellers out there!

Where do we stand now?

The market is still strong in the seller’s favor. In fact, inventory is lower than before thanks it being mid-winter. If you’re thinking about selling, now is a great time to learn what your home is worth. But keep in mind, getting a lot of money for your house is only part of the equation. You need to consider where you will go from there. May we suggest: Should you sell in a seller’s market?

You deserve a better real estate experience.

» Learn about the benefits of buying and selling with us.

6 Nancy Rd #3, Easton, MA

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VRP $239,900-$249,900

2 beds - 1.5 baths - 1,052 sq. ft.

MLSPIN #: 72646293View on Google MapsA home has never been more important… Come live in one of the most desirable, well maintained complexes in Easton. Easton Crossing is situated on 22 acres and includes a pool, basketball and tennis courts, open space, a dog park, fitness room, and clubhouse. This two bedroom condo is a corner location, which means more windows and lots of natural light! Just outside the living room is a private patio perfect for grilling. Upstairs you'll find two bedrooms, a full bath, laundry (no carrying baskets downstairs!), and a spacious master bedroom (16’+ long). Please note that in addition to the “standard” items, the monthly fee includes all amenities, hot and cold water, sewer, new roofs, and MA Save energy efficiency. Value Ranged Priced between $239,900 and $249,900. Vacant and easy to view!

Virtual Tour

» Click here to view a Virtual Tour

Floor Plan

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Community

Name: Easton CrossingYear Built/Converted: 1976/2005Total Units: 188Parking: 2 deeded outdoor spaces

Utilities

Cooking: ElectricHeating: Electric baseboard, 2 zonesCooling: 2 wall mounted A/CWater: TownSewer: Community treatment plant (Title 5 not required)

Estimated Costs

2018 Taxes: $3,394 per yearAssociation Fee: $419 per month (includes assessment for new roofs, added insulation for lower energy costs, Pex plumbing and future water heater replacements)Fee Includes: Hot Water, Water, Sewer, Master Insurance, Swimming Pool, Exterior Maintenance, Road Maintenance, Landscaping, Snow Removal, Tennis Court, Exercise Room, Clubroom, Refuse Removal, Reserve Funds[/trx_column_item][/trx_columns]

Want your home marketed like this? Contact us!

103 Regency Lane, Abington, MA

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Open House

Saturday, March 7 from 11:30-12:30pm

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$359,900

2 beds - 2 baths - 1,886 sq. ft.

MLSPIN #: 72602575View on Google MapsBright and beautiful townhouse! This one has it ALL - garage, fireplace, outdoor space, master suite, and an open floor plan. Topped off with freshly painted walls and newly refinished floors. The Gables is a well-managed community offering many amenities such as a fitness center, putting green and tennis court, and it abuts Ames Nowell State Park. Low-maintenance townhome living provides you with the time to enjoy more of life - come see what your new home could look like!» View a 3D Tour of the Property

Floor Plan

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Community

Name: The GablesYear Built/Converted: 2003Total Units: 220Parking: 1 garage, 1 deeded off-street

Utilities

Cooking: ElectricHeating: Forced air, gasCooling: Central airWater: City/townSewer: City/town

Estimated Costs

2019 Taxes: $5,497 per yearAssociation Fee: $409 per monthFee Includes: Water, Sewer, Master Insurance, Exterior Maintenance, Road Maintenance, Landscaping, Snow Removal, Putting Green, Tennis Court, Recreational Facilities, Exercise Room, Clubroom, Refuse Removal, Reserve Funds[/trx_column_item][/trx_columns]

Want your home marketed like this? Contact us!

15 Summer St #109, Franklin, MA

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Sold!

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$329,900

2 beds - 2 baths - 1,350 sq. ft.

MLSPIN #: 72602575View on Google MapsWelcome home to the heart of downtown Franklin! This well-kept corner condo is just a short drive from I-495 and an even shorter walk to the commuter rail. Condo living provides plenty of time for you to relax or enjoy family and friends. For the nights that you decide to entertain, the open floor plan has plenty of space and your overnight guests will have the privacy of their very own bedroom and bathroom. In the winter, you'll definitely be appreciative of the garage parking and elevator (especially after a long day of shopping at the nearby Wrentham outlets). And, weekends will never be boring now that shops, restaurants, and the train are all within walking distance. The condo fee includes water, sewer, heat, and more. Purchase includes a 13-month home warranty. Photos are of a model home that sold within the property. Photos highlight the same floor plan and finishes. This condo is vacant. 

Floor Plan

[/trx_column_item][trx_column_item span="1"][trx_button type="square" style="light" size="medium" align="none" top="15" bottom="20" link="#Showing"]Book a showing[/trx_button]

Community

Name: Franklin Center CommonsYear Built/Converted: 2008Total Units: 27Parking: 1 garage under, 1 off-street

Utilities

Cooking: ElectricHeating: Forced air, gasCooling: Central airWater: City/townSewer: City/town

Estimated Costs

2019 Taxes: $4,246 per yearAssociation Fee: $452 per monthFee Includes: Heat, Hot Water, Gas, Water, Sewer, Master Insurance, Elevator, Exterior Maintenance, Road Maintenance, Landscaping, Snow Removal, Refuse Removal, Reserve Funds[/trx_column_item][/trx_columns]

Want your home marketed like this? Contact us!