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The Reality of Realty in a Pandemic Part XVII – Selling Tactics Show a Change in Tides

The Reality of Realty in a Pandemic Part XVII– Selling Tactics show a Change in Tides Now that we are well into the Summer months, Acton’s real estate market still shows a strong increase of 25% over the same timeframe in 2020 with a 24% increase in the number of sales with 131 sales – year to date. With the number of sales stabilizing from June to July, here are Acton specific statistics to consider for the period of July, 1 – July 31, 2021;

  • 18 homes sold firm at an average of 107% of asking price.

  • It took an average of 8 days on the market to sell firm.

  • Average sale price in Acton - $813,544

  • Lowest sale price - $429,000

  • Highest sale price - $1,300,000

Contrasting with July 2020;

  • 24 homes sold firm at an average of 102% of asking price

  • It took an average of 20 days on the market to sell firm

  • Average sale price in Acton - $683,833

  • Lowest sale price - $520,000

  • Highest sale price - $998,000

So, what does all of this mean, and how can we look deeper into these numbers? While analyzing the tactics used by Sellers and Selling Realtors, I’ve noticed that when a listing is ‘holding off offers’ it isn’t working as frequently as it once was. There was a 30% failure rate with this tactic in July. What this means to you as a Seller, is that the list price needs to be closer to Market Value and that the tactic of ‘holding off offers’ isn’t popular with buyers anymore, almost creating a backlash. 12 percent of the sales in July went a different route, listing closer to Market Value, not holding off offers and got asking price or in some cases more than asking anyway!!




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