The Worcester Telegram is reporting that the COVID-19 pandemic has further exacerbated the limited supply of homes available to a Worcester County Market that was already in short supply given the high demand. The article points out that although “the pandemic did not create a thin market, it certainly made the thin market thinner.” This is good news for sellers, because when the “housing stock is so low, many buyers compete for the same property, sometimes even raising the asking price.” For more information on this, read the full article here.
This volatility in the Worcester Real Estate market is yet another reason why it is so important to properly price your home. Although there is undoubtedly an urge to list your home a little higher than you normally would, properly pricing your home can drive a strong amount of traffic early on and create more competition among buyers, ultimately leading to higher sale prices. The DiRoberto Team knows the local market inside and out, and with over 3,000 transactions in the area, we can help you take advantage of the seller’s market. And if you’re looking for Property Management Services, we can help you with all different kinds of properties, including: Multi-Families, Commercial Properties, Apartment Complexes, and Condominiums.
Telegram “Post-pandemic real estate market sees thinner housing stock, more buyers and more rules for showing” www.telegram.com. Accessed 17 June 2020.