Competitive Housing Market for Buyers
“I had so many people coming into the house itself. I couldn’t get to everybody,” said Stacy Ashton, realtor, about a recent open house.
Ashton is with Gallagher Real Estate. She sold the two bedroom ranch in Chicopee from that open house within seven days. She says low inventory is making it harder for buyers to find homes.
“If you like a house and you are certain that you like that house you don’t want to wait on that house because the chances of it being there the next couple of days are pretty slim to none,” said Ashton.
“You either make the decision now or loose the home so we acted real quick,” said Tammy Rachliffe, Belchertown.
Rachliffe didn’t want to lose out on her three bedroom condo.
“I thought we were gonna loose it maybe in the, right as we were putting in the offer, cause another had come in,” said Rachliffe.
Low interest rates and cheaper homes are driving the sales. According to the Area Market Survey, in Hampden Country over the last 12 months there have been 3,073 single family homes sold compared to 2,711 in 2008.
The Warren Group Reports single family home sales are up compared to last year and are 12% higher in value.
Ashton says buyers are heading into the market having done their research and are confident with what they want to buy.