Boston, MA homebuyers rush to the suburbs

Boston, Massachusetts area suburban homes are selling faster than last year and outpacing their urban counterparts, according to a report by Realtor.com. Homes in suburban Boston sold 32.8% faster compared to the same time last year. Listing price growth for suburban homes from last year increased by 6%, while urban went down slightly by 0.4%. The demand for homes in the suburbs in part led to a decline in inventory by 43.7% for suburban homes, while urban homes inventory grew by 4.0%, according to the report.

The number of people shopping for homes also increased dramatically from August 2019 by 48.8% for suburban Boston and 36.8% for urban parts of the metro area. These housing trends show that many home buyers in Boston are migrating to suburbs due to the pandemic and the desire to have more space, which is causing the amount of homes in those areas to drop. In the 10 largest metro cities, the number of homes for sale in the suburbs went down by 41.3% as well as urban homes dropping 34.3%.

“Based on the rising popularity of the burbs, some buyers might think they can catch a break by searching in the city, but unfortunately that’s not the case,” realtor.com Chief Economist Danielle Hale said in the press release.

“Rising home prices and fast home sales are everywhere. If you’re a buyer in today’s market, finding and closing on your dream home is not going to be easy.”

The post Boston homebuyers rush to the suburbs appeared first on Boston Agent Magazine.

Who Pays the Home Buyer's Agent?

Both seller's agent fees and buyer agent's fees are part of a typical real estate transaction and are included in the final negotiated purchase price of the property. There should be no additional fees to the buyer for a buyer's agent above and beyond the negotiated purchase price of a home unless specifically agreed in writing between the buyer and agent before an offer is made.

In most cases, the seller's agent pays the buyer's agent for bringing the buyer, negotiating the purchase price and terms, writing a legally correct offer, coordinating inspections, responses, and financing plus handling numerous additional details on the buyer's side of the transaction.

Buyers should avoid contacting seller's agents and sellers directly unless they are comfortable negotiating and representing themselves. That is why it is important for buyers to choose their agents BEFORE they begin looking at homes or as soon as possible if they have begun looking.

Did you know that fewer than one percent of the agents and brokers in Massachusetts have committed to being 100% loyal to their buyers 100% of the time?

To learn more about the pros and cons of various types of buyer agents, or to get a list of experienced local 100% loyal buyer's agents to interview without obligation, click the button below.

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Selecting the Right Homebuyer's agent

Unlike most other real estate agents, a MABA home buyer's broker never represents both a buyer and seller in the same transaction so you never have to worry whether a MABA agent is really looking out for your best financial interests. A MABA buyer's agent acts as your advocate, real estate educator, advisor and negotiator, always loyal to you and dedicated to helping you find and buy the best home with the best terms at the price and showing you which homes to avoid along the way.

Fewer than one percent of the agents and brokers in Massachusetts meet our high standards. 

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