Fast sales do not mean you should rush without a plan.
If you are wondering whether you need to move fast when a good house appears, the answer is yes - but not blindly. In Oxford, MA, the recent pace was quick enough that I would have buyers prepared before the first showing, because a typical sale took just 5 days over the previous 30 days.
Speed is the first thing I would respect here. Supply recently stood at 0.8 months, and recent closings came in at 103.1% of asking, so buyers in Oxford, MA need to expect competition when a well-positioned home comes to market. That does not mean every house deserves a stretch offer. The typical asking price for active listings was $457,500 last month and the typical closed price was $440,000, which tells me I should separate the homes that are merely listed high from the ones buyers are truly chasing. Get your financing and proof of funds lined up before you tour. Decide your ceiling before you fall in love with a house. In Oxford, MA, I would also narrow your must-haves now so you can act decisively when the right property appears.
About Dave Stead
Dave Stead is a licensed Real Estate Professional affiliated with REMAX Partners, specializing in the Oxford market. With a focus on strategic marketing and deep local knowledge, Dave Stead provides clients with expert guidance in navigating complex real estate transactions. View full profile →
