Your Greater Boston Real Estate Connection

I hope everyone is staying healthy and safe as you find ways to enjoy this warmer weather in Boston! We received a wonderful response to our last email blast. One thing people asked about was market data, so we now have signup for whatever neighborhood you want data on. Further down in the email you’ll find a button that says “Neighborhood Market Report”. Click it, pop in your email, and the zip code(s) you want info on, and I will get those area-specific reports out to you once a month. No spam, just real estate market info, and trends on your neighborhood sourced from hard data. Super simple.

Another question folks asked about was how the market is operating amid the outbreak. First and foremost, speaking to buyer trends, we are seeing high demand for suburban property, property with outdoor space (patios, decks, and yards), and proximity to good “green space” (parks and conservation areas). I guess you could say people are buying what several months cooped up in their homes has left them hungering for. We are in an extreme seller's market for many areas as interest rates are at historic lows again and inventory is still very depressed. The million-dollar question now is whether or not these trends will continue as COVID (hopefully) dissipates. 

The second remarkable thing about the market right now is how significantly buying and selling procedures have changed… and I don’t just mean people wearing masks on showings. Standard listing schedules have gone out the window now that open houses have been fully replaced by private showings. People are still viewing properties in person (for the most part), but the trends of what day of the week property is listed on and when it goes off-market have gone out the window. No more “listed on Wednesday morning, sold by Monday afternoon”. Instead, properties are coming on and off the market seven days a week, sometimes getting sold after only a couple days on market (yes, it’s still that hot for many properties). This seems like a trend that is likely to fizzle out once open houses are back on the table, but certainly only time will tell.

Lastly, I want to speak to what is happening in the world right now in regards to the Black Lives Matter movement. I feel it’s important to acknowledge how I and the company feel about issues of police brutality and other issues that disproportionately affect people of color. As someone who works in the real estate industry, I am also aware that housing practices like redlining, predatory lending, and rampant housing discrimination have historically suppressed minorities-- Black people in particular-- and have tied in with issues of how many communities are policed. Many of these issues are ongoing and have lasting impacts that reverberate through Black communities for generations. I don't have answers but I do know that I unequivocally support the need for change, and I am committed to educating myself and doing what I can, alongside the agents in the office, to work for change in our industry and in our community. To begin with, below, you will find some organizations that I support that could also use your support in time or donations.

As always, do not hesitate to reach out about any real estate questions big or small. 

Stay safe,

Ben Resnicow
Owner/Broker