Flips & Resales Continue Into Fall
Having time only for a breathe after the summer/school deadline rush that carried through until Labor Day, Greater Newburyport’s No 1 Real Estate Agent Robert Bentley is now gearing up for the fall real estate season, which is proving to be competitive.
“It’s not a buyer’s or seller’s market at the moment,” said Bentley. “People are still waiting for more inventory to hit.”
According to Bentley, the Newburyport real estate market lacks single family homes for sale, with homes on the market down 25% from this summer. This leads him to believe our fall trend may be in land for sale.
“Currently there are 21 lots of land for sale, so we’re hoping builders will start snapping them up to create new single family homes and meet the demand,” said Bentley.
Prices for these lots of land range from $219,000 to $598,000, and Bentley is particularly keeping his eye on Twomey Drive by Caswell Development.
If you’re interested in taking advantage of this opportunity and listing your single family home on the market this fall, Bentley recommends starting with his Home Value Bestimate. This tool allows you to assess the value of your property online with a comprehensive report that compares the attributes of your home against those of other homes on the market or recently sold.
On the flip side, the Newburyport condo market remains strong as many renovations and resales continue into the fall.
“There are 48 condominiums on sale right now in the Greater Newburyport area,” said Bentley.
Bentley’s represented the highest priced condo sold this year listed at $759,900. This unit is located in downtown Newburyport. The sale is scheduled to close this month.
To schedule a private consultant with Robert Bentley about the sale or purchase of a Greater Newburyport area home, call 781-858-5115.
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