2019: Our Year in Review
Happy New Year! It's hard to believe that another year has passed since my last year in review -- and that it's practically mid-January already.
This time of year is typically a time of reflection for most people, and I spend much of January analyzing my business: what I'm most proud of, areas that can be improved, my team's performance and goals for the year ahead.
2019, as we started to get hints of in fall 2018, saw change for the Greater Boston real estate market. We began to see a shift away from the very strong market that sellers have enjoyed since 2013 to a more balanced market. While no one would say that we are now in a buyer's market, buyers definitely had more power in 2019 than in previous years. Inventory was slightly up, meaning that home shoppers had more to choose from when making their purchase. As a result, some properties took a little longer to accept an offer and we saw more price drops than we have in recent memory. Bidding wars and sales prices over-asking were no longer slam-dunks. It was critical to price a home right from the get-go, so that it didn't languish on the market.
We are proud of the results we achieved for our sellers in 2019 despite this changing market. We defied what others in our industry and those looking to sell experienced. Here's a quick round-up of our listings:
351 Dorchester St. #1, South Boston (January)
List Price: $345,000 | Sale Price: $349,000 (1% over asking price; multiple offers received)
216 W. 9th St. #2, South Boston (April)
List Price: $465,000 | Sale Price: $465,000 (100% of asking price; multiple offers received)
66 Tuttle St., Dorchester (June)
List Price: $769,000 | Sale Price: $830,000 (8% over asking price; 8 offers received!)
351 Dorchester St. #4, South Boston (June)
List Price: $499,900 | Sale Price: $487,500 (98% of asking price)
925 E. 2nd St. #7, South Boston (June)
List Price: $639,000 | Sale Price: $639,000 (100% of asking price)
95 Greenwood Lane, Waltham (July)
List Price: $599,900 | Sale Price: $710,000 (an amazing 18% over asking price after receiving 10 offers!)
45 West Broadway #301, South Boston (July)
List Price: $839,000 | Sale Price: $839,000 (100% of asking price)
**We got so much press for this truly unique and spectacular home, and it was even included in this roundup of the prettiest homes that hit the market in 2019.**
165 M St. #3, South Boston (August)
List Price: $675,000 | Sale Price: $690,000 (2% over asking price; multiple offers received)
15 Cotton St. #1, Roslindale (November)
List Price: $459,000 | Sale Price: $475,000 (3% over asking price)
**Boston Magazine gave a shout-out to this home; no surprise we received 5 offers.**
66 Tuttle St., Dorchester (yes, we sold this house twice in 2019; the 2nd time in Dec.)
List Price: $875,000 | Sale Price: $875,000 (100% of asking price)
We are pretty pleased with these results. While we achieved, on average, for our sellers a sale price that exceeded the listing price, we were able to do the reverse for our buyers. On average, our buyers in 2019 bought their homes for less than the listing price, saving them money. At its simplest, this is exactly what a real estate agent is supposed to do for you: get you the highest price possible when you sell, and get you the lowest price possible when you buy. I wear these results as a badge of honor.
Other highlights in 2019: We sadly said good-bye to Kristin Otto who left to start her nutrition career with a prestigious gig at Mass General, while welcoming Hannah Brooks to the team as our Transaction Coordinator. We also held a Client Appreciation Event at Bully Boy Distillers in November. Joined by 50 of my past clients, it was a fun night and was the least I could do to show my appreciation for their loyalty and trust. Thank you to all who came and to those who were there in spirit.
Wishing you all a happy and healthy 2020!