SPONSORED POST: Teri Adler of Pinnacle writes about today’s white-hot real estate market:
A frantic call came in from my colleague earlier this week, and she said “The market is slowing down; instead of 16 offers sellers are looking at only 4!” The statement almost made me laugh. Even after all this time, the real estate market still seems like an alternate universe to me. The pace, the emotions, and the extremes are all so draining and hard to keep up with. The spring market is typically a tiring sprint, but this added layer of overall craziness adds even more complexity.
And it’s not just our bubble that’s experiencing this hot market of course, it’s nationwide. Almost daily, my friends and family send me articles evaluating the market. We can continue to put forth our ideas on why the market is what it is, but the hard data is what’s most impressive.
These charts nicely demonstrate the supply of houses nationally and the rising prices. This year is expected to be as stunning as 2020.
I think it helps when we take a step back and say, “Wow, this is happening everywhere.” A client moving to Ohio told me that in 2019, houses there would sit for months and months and you truly could not give them away. Now there is an extreme shortage of houses in the Cleveland suburbs, and in turn, there is nothing to buy. My clients are unable to sell their home here in Wellesley, because there is no place for them to buy in Ohio. This vicious cycle is why so few houses are available.
About Teri Adler:
No one knows the Greater Boston real estate market better than Teri Adler of Pinnacle Residential Properties. Consistently recognized as Pinnacle Residential’s Real Estate Broker of the Year, Teri’s achievements and passion for guiding homeowners through the buying and selling process place her among the top realtors in New England. Specializing in Wellesley MA real estate & Weston MA real estate, Teri has been working with local buyers and sellers for years and is proud to be one of the top agents serving the area.