Which towns are the best for home sellers? For home buyers
It's that time again, time to revisit the "heat map" of where buyers are focusing. Let's take a look. (Interested in old reports? Just go here).
How have things changed? Well not too much - but there are some elements worth noting.
Natick Leads the Pack for Home Sellers - Again - but rising prices may cut
into it's two year status as the hottest market in Metrowest.
- Top four stay the same
The top four towns stayed hot all season: Natick, Framingham, Westborough and Hopkinton. A little interesting that Westborough went through a "mini" slump in between Hot Town reports, but it remains a place buyers will go.
- Sudbury moves up; Millis drops
Sudbury has started to climb back up, but stays in the middle of the pack, surprising for Sudbury, which usually remains at the top. Millis is a small town, and more volatile, but it's drop was pretty noticeable.
- Natick is a Real Estate Juggernaut
Forget that Natick is at the top again. Look by how much! There isn't another town with in striking distance of Natick in either report. Listing agents are getting the hint (finally), and I see asking prices have moved WAY up this spring. If buyers keep purchasing property, we'll see Natick making big jumps in our next report - $/ sq foot.
- Worcester remains in the middle, Milford stays good for sellers.
There are usually forerunners in price increases and laggards. Milford and Worcester tend to follow the overall market when it comes to price increases, but at some point the value becomes undeniable. That's what we've seen here, as both towns put up solid scores in back to back report. That's called a bottom folks, when the lagging markets start selling again. If the homes for sale in these markets (and other laggards) continue to tighten, it will be the tide that rises all boats in Metrowest. Keep an eye on it!
- Remember, the towns at the bottom will have deals for buyers!
What I love about this view of the market is ANY town can get hot and go for a run. If buyers focus on the "cold" towns, they have a better chance of getting great deals, and will benefit when the town goes on a run. For sellers, if you're in a hot town, and want to sell, now's the time. Move while the buyers are focusing on your town.