As it almost always does this time of year. If you’re planning to list your house this year it should be on the market now, not three months from now when the flowers are out but many buyers have already found what they wanted. In any event, as of 2:30 today, there are eight accepted offers reported. Two of interest are 11 Broad Road, “in the Belle Haven ‘neighborhood’ “, which usually means close but no cigar, asking $5.299 million, and 8 Bradbury Place, Riverside, asked $2.850 and gone in just four days.
11 Broad Road never dropped its price during its time on the market – it didn’t sell last fall but it has now, after 155 days. That’s back to normal for this price range.
8 Bradbury sold for $2.875 in 2008 and is gone this time, as I said, in just days. Asked $2.850, but did it go in a bidding war? I don’t know because I wasn’t involved, but that’s exceedingly quick even for Riverside. Highway noise, too!
Deferred bonuses vesting, pent-up demand; something’s stirring out there, but I’ll say it here for the first time: don’t overprice your house, because buyers are no longer counting on a rising market to bail them out of overzealous bidding, and they’re being cautious. Price it right, sell it fast. Otherwise, you’ll sit. The good news for sellers is that the right price seems to be going up.