The South End office had 7 under agreements this week. Our under agreements ranged from a property listed at $277K to one listed at $1,599K. Two under agreements over a million, 3 between $500K and $1M, and 2 under $500K. This excites me more than anything. There is activity in all price ranges, and from what I hear around the office there are very serious buyers out there in all these price ranges just waiting for some good inventory.
The talk remains about the lack of inventory in all downtown neighborhoods. Available inventory is at an all time low of 2.23 months in the South End, and in certain price bands there is even less. The lack of inventory and strong buyer activity is creating many multiple offer situations. This is not mentioned to gin up excitement by any means but in order to maintain this early and healthy level of activity we do need additional inventory.
Some agents are even wondering if that winter vacation is such a good idea, as there is so much going on! I say go! Engage your coverage options and take a break as this early activity is boding well for a decent and busy Spring.
We had a great “robust” office meeting talking about the need to focus on a business plan and the need to utilize all the resources available in order to execute the plan, and of course the lack of snow and inventory. We had a fun agent and friends networking night out at Game On in the Fenway on Groundhog Day. I saw a post on fb this morning saying that Puxatony Phil is not a meteorologist and what the hell does he know anyway? 6 more weeks of winter? Hope not!
That’s it from here.