Holliston Housing Market Booms in 2020Jan 29, 2021 11:13AM ● By Ed Daniels
Without working in the real estate field, I would not have imagined that the housing market activity in Holliston would have grown during a Covid 2020. Even with all the difficulties in navigating how to sell or buy a house in this environment, the Holliston market flourished with only minor delays in March.
A large jump in the number of sales:
Holliston had 220 single family home sales in 2020, which was a jump of 39 percent from 2019 numbers. This is a healthy number of people moving but it is still historically a low number compared to the past 15 years. We find ourselves currently at only a 1 month supply of available homes, so it points to a very strong Seller’s Marketplace!
Sales prices have strength:
The average Sales Price for a single family home in Holliston for 2020 was $599,194. This is a healthy 7.3% price increase over 2019.
Buyers receiving very low interest rates, and only a few options to buy:
Most people live in the monthly payment. This happens a lot with big ticket items like a car or a house. When the interest rates are really low, that monthly payment is lower and therefore it supports that Buyer paying more in a final Selling Price. As long as they are still comfortable with the monthly payment, it works.
Interest rates right now can be had in the 3% range and all the major indices are forecasting them to stay there in the coming year.
Homes sell fast:
One of the biggest concerns that home sellers have is how quickly are they going to be able to find a buyer. Nobody wants the continued stress of keeping the home “show-ready” and having to get out of the home each time there is a showing.
No worries there! The average home sale in Holliston over 2020 took 29 days from Listing Day to Accepting an Offer. That is 38% less time on market than in 2019!
While my experience has been that the most successful home Sellers are the ones who pull out all the stops in preparing the home, determining an accurate Asking Price, and marketing the home with a professional Realtor, we do find that a majority of these 2020 listings seem to understand that!
Forecasted to be another strong housing market over 2021
Our local real estate Team is experiencing continued strength in this Seller’s Market. There are many shoppers who appreciate the community of Holliston and the strength of the schools. The town is in a reasonable commuting location to the city, and has public transportation options close by. We experience multiple offers being made on homes that are coming on market in January, though a major driver of this is because there are very few that are available right now.
Vesta Real Estate Group prepares Sellers over the course of weeks to best position their homes for sale. If you would like to have these free services prior to selling in 2021, it is never too early to reach out for insights and tools to assist you.