Banker & Tradesman says there is a shortage of listings inventory in some of the Commonwealth’s tonier communities.
Statewide, there were 26,583 single-family homes for sale as of last Thursday, up 1.4 percent from the 26,217 listings during the same time in 2007, according to information from MLS Property Information Network …
[But] … there are fewer homes on the market in towns like Brookline, Belmont, Cambridge, Newton and Hopkinton compared to last year.
In Brookline, there were 45 homes listed for sale, down 34 percent from 68 during the same day in March 2007. Prices ranged from $449,000 to $7.95 million. Newton had 153 homes available, 20 fewer than a year ago.
Only those people who “need” to sell are putting their properties on the market. Makes sense, right? In a hot market, you might say, “Okay, maybe we should move up into a better / larger home.” In a cool market, you might say, “Hunny, we’ve got it good, put away the Real Estate section and throw a log on the fire, it’s time for Oprah’s Big Giveaway.”
Source: Affluent Suburbs See Dip in Home Listings – By Aglaia Pikounis, Banker & Tradesman