Boston Markets Hotter Than The Weather
David Bates / July 12, 2011-6:48 pm
The first half of the year is over. It’s summertime, and that means it’s a good time to check out the markets where the selling temperature has risen.
Andy McLaughlin, a real estate agent and photographer of fine homes, says they turned up the heat in Belmont market. Andy feels that the homes in Belmont are “selling via word of mouth before they hit the market” and “if a house actually does go on the open market there are frequently multiple offer situations resulting in over asking sale prices.” He writes, “600K-900K seems to be the sweet spot.”
The Brookline high-end market is another market experiencing a sales heat wave. I recently had two listings in the sixes there. The first received 26 showing requests in the first three days. The second went under agreement above ask on the first showing. Still, this incredible activity can’t be compared to the SPF 50 consumers are advised to wear if they want to buy a home in Brookline’s million-plus market, a market which is currently 35 percent ahead of last year for under agreements — and where I heard that one house listed for over a million dollars received 11 offers.
Another hot market coming in under the gloom-and-doom sales reports radars is the high end of the Somerville market. In 2010, 18 condos listed above $600K went under agreement in the first half of the year. In 2011, 28 condos listed above $600K went under agreement in the first half of the year. That’s a 55 percent increase! As it stands, in Somerville’s MLS history, only 11 condos have topped a $900K sales price…. and nearly half of them occurred in the first half of 2011. As Paris Hilton would say, “That’s hot!”