No one is sure whether it's the unseasonably warm weather, or a meaningful shift in buyer sentiment, but there are rampant anecdotal reports of increased activity in the local housing market, at least in the greater central Massachusetts region.
For example, I am working with some buyers who are interested in purchasing a condo in southern Worcester County, and we've been looking at a variety of units in Grafton, Millbury, Northbridge, Hopedale, and Uxbridge.
My buyers decided to add the town of Auburn to their list of possibles, but when I called, over the weekend, to arrange an appointment for a cute townhouse there, the listing agent told me, in a tone of disbelief, that he'd just received two offers on this unit, and that the seller expected to choose one of them within the next few hours. This townhome had been on the market for about three months, with little activity, and suddenly, everyone wanted it!
There are 13 condominiums currently on the market in Auburn, with an average price of $225,408 and an average time on the market of 138 days, according to MLSPIN. (Two of these units have accepted offers but they are available to be shown for "backup.") This represents a six-month supply, based on the fact that during the last 180 days, 13 units have sold in Auburn for an average price of $192,431.
So it looks like even though current list prices for condos in Auburn are about 10% higher than the most recent selling points, buyers are making offers and whittling down the inventory.
Whatever the reason, this is good news!
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