Prices have fallen but inventory is low too. What to do?

Well, 2013 is in the rear view mirror and all the opportunities of 2014 lie ahead.

If you’d like, you can receive updates that I send from MLS as new listings matching your criteria come on the market. Click here to sign up. The current market should affect your decision making in 2014.

hanover 2014This note is to remind you that in every one of our local South Shore towns inventory of homes for sale has been falling since October 2013. Usually a falling inventory with limited supply is a seller’s market and prices go up. That hasn’t happened – – – yet.   (For more on market trends, click here.)

The median listing price in our local towns, with a couple of exceptions, has remained surprisingly flat. In Hanover, Hingham, Norwell, and Scituate listing prices have actually fallen. This trend will not continue in my opinion. In the near term, expect to see listing prices rise. So, now is the time to act.

I suggest that you review each home that’s available for sale carefully. Make a list of everything you “must have” in a home and those things that you would “like to have”. Compare the homes you’ve seen and those you will look at in the next few weeks against the must-have list and then give me a call to visit a few.

Sometimes shortcomings in a home are minor and are offset by the value the home has today.

As always, I am here to represent you, the buyer, exclusively so please give me a call!

Bob Mitchell

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