• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Hagopian Law Group, LLC

Consumer Real Estate & Consumer Protection Law

TwitterLinkedInFacebookmelanie@mhagopianlaw.com
Call 781.333.5244
  • Home
  • About
    • About Us
    • Testimonials
  • Practice Areas
    • Residential Real Estate
    • Commercial Real Estate
      • Commercial Transactions
      • Construction
      • Condominium Construction
      • Use and Zoning
    • Estate Planning
  • Resources
  • Blog
  • Wire Fraud Warning
  • Contact Us

3 Reasons Why It’s a Seller’s Market in Massachusetts (Fall 2020)

Posted in: Home Buyer Tips | September 28, 2020

It’s fall and we’re grappling with a pandemic, but it’s still a seller’s market in Massachusetts! There are several key contributing factors to current market conditions. Understanding this can help you better navigate the home buying process. Here are three reasons why it’s a seller’s market in Massachusetts right now.

1 – Inventory Is Sparse

Inventory has been low for a few years, but it is even lower right now due to COVID. Many people are hesitant to sell amid a pandemic and/or other uncertainties related to the pandemic. With few homes on the market, those that do get listed are selling very quickly. As a buyer, it’s important to monitor the market and receive daily updates for new listings. Additionally, as you start your home search, anticipate that it may take longer to find a home that matches your needs.

2 – There’s an Abundance of Buyers

Not only are there fewer listings but there are also more buyers. Many people have been self isolating and working from home. Everyone is re-evaluating their housing needs and looking for more indoor and outdoor space. More buyers are on the market in search of suitable homes given the “new normal.” In fact, there’s been a lot of talk about city dwellers migrating to suburbs because of work-from-home arrangements and the desire to have more space.

Given the abundance of buyers, it’s very common to face competition when bidding on homes. You can expect to encounter multiple offers and bidding wars. Read our article on How to Win Bidding Wars for some tips on this.

3 – Interest Rates Are Historically Low

The third contributing factor to the current seller’s market in Massachusetts are low interest rates. They are historically low right now! Many buyers during the summer months secured rates under 3%, which is amazing. With rates so low, it may be more cost effective to buy than to rent. Renters entering the buying market is increasing demand even further.

What You Should Know As a Buyer

With all of this going on, what should you know as a buyer? First, get pre-approved. Homes are going under agreement very quickly and you can’t effectively compete unless you can demonstrate that you qualify to purchase a home. Secondly, connect with a local real estate agent and request daily updates on new listings. Homes can sometimes sell within just a day or two of being listed so staying up-to-date is key. Now that you understand a little bit more of why it’s a seller’s market in Massachusetts, you can approach it with realistic expectations and timelines. Don’t forget to contact us for assistance with your legal needs once you’ve found your dream home!

Share...Share on facebook
Facebook
Share on google
Google
Share on twitter
Twitter
Share on linkedin
Linkedin
Share on email
Email

sidebar

Blog Sidebar

Contact Us

We look forward to you contacting us with your questions and comments. You are welcome to come and talk to us in person. Your initial consultation is Free.

Just call or email us. We are happy to help.

  • Please help us avoid spam by answering what is ten minus zero.
  • This field is for validation purposes and should be left unchanged.

Topics

  • Estate Planning (3)
  • Home Buyer Tips (31)
  • Home Ownership (4)
  • Home Seller Tips (19)
  • Landlord-Tenant Matters (1)
  • Mortgage Tips (5)
  • News and Events (5)
  • Uncategorized (2)

Hagopian Law Group, LLC

Phone: 781.333.5244
Fax: 781.218.2073
Email: melanie@mhagopianlaw.com

754 Massachusetts Avenue
Arlington, MA 02476

Recent Reviews

Jake L.
Oct 25, 2016
 by Jake L. on Hagopian Law Group, LLC

Melanie was a pleasure to work with during what was an otherwise rough house purchasing process. During negotiations, and during the closing Melanie always... Read More

Michael B.
Oct 25, 2016
 by Michael B. on Hagopian Law Group, LLC

We used Melanie to help us close on our condo sale and she did our will, power of attorney, etc. Very responsive and friendly. Answered all our questions... Read More

Page 1 of 3:
«
 
‹
 
1
2
3
›
 
»
 

Copyright © 2025 Hagopian Law Group, LLC

Powered by Lanergy Solutions