Want to know where the action is in the Housing Market? Here's your guide
OK, here's the latest in my series about where the buyers are spending their time and money. Remember, this is a chart about where the imbalance between sellers and buyers is greatest - and worst. Towns at the bottom will have more choices, and less pressure on prices, which is good for buyers. Towns at the top are the most competitive, and in this market the best properties are selling in hours in these towns.
Here's the chart
Natick remains the best town for Home for Sale,
with the most outsized demand.
If you compare the last chart in this series, here's what we see.
1) The numbers are WAY UP. If you've been out there as a buyer, you know things are a little insane (OK, maybe they were a lot insane), and you can see that as the AVERAGE across all the towns is up about 50 points. Now some of that is due to the MLS changing how they were tracking properties, but a lot of that is reality. The average in this report is 128, last time it was about 80 something. Incredibly, these numbers are likely understated, as three of the laggards are reports I haven't updated yet (Westborough, Upton, and Sutton). They will likely go up sharply too.
2) Prices are up. Forget about last year's prices, they are long gone. Many towns are out of deals, and the remaining home sellers that are still left haven't been around very long (so they won't be cutting prices), and prices are up sharply over last year in most towns. This is great news for sellers - but the forecast for buyers will remain difficult until these HSI numbers start to come down significantly.
3) Records are shattered. I never thought with my scoring system I'd ever see a town with 150 HSI. But 5 towns broke that mark, - Framingham and Natick shattered it - and three others were in the 140's. That's almost half the group in uncharted territory. Here's the good news for buyers: It can't stay that way for long.
4) Big moves: Holliston, Southborough and Shrewsbury made some big moves, as buyers frustrated with a lack of housing options in Natick, Framingham, Hopkinton and Sudbury pushed West.