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C.H. Naamad

Boston Luxury Residential

By C.H. Naamad | Broker in 02116

Bidding wars are back for Greater Boston homes

The lack of inventory is forcing buyers to compete for fewer homes as multiple offers and bids above asking price are becoming increasingly common.

A Boston Business Journal analysis of MLS Property Information Network data found that properties selling for over their asking price have more than doubled in the past year. A total of 512 buyers paid more than the list price in the Boston metro area from Dec. 1 through March 6, up from 218 in the same period a year ago. Mortgage rates under 4 percent and a limited inventory of homes are driving buyers to compete against easch other, and offer more than asking prices. 
Source: BBJ.com

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