Is the cold and snow really that bad? After years of reporting on storms for the local news and cringing at the hint of inclement weather, I am at peace with winter. At the least the chilling temps force us to slow down a bit, which isn’t a bad thing. Major storms that keep us at home for a day could be the perfect time to do some nesting and reset. I guess I’ll take it.
I’m reflecting on this because I believe the current weather conditions have delayed a quick start to our 2025 home selling season. Hibernating at home to protect yourself from the wind chill doesn’t exactly create an inviting backdrop when shopping for a new home. It just makes you want to stay put in your current one. As a result, a frenzy of new buyers is yet to hit open houses.
Like the weather, this will change. Come February and March, I promise there will be lots to report on new listings and a shifting real estate climate. My assistant Ava and I are excited and ready to rock and roll—working tirelessly at showings and open houses. For now, though, you can see that most towns are a little slow, except for Needham and Natick that had a great week!
The Interest Rate Factor
In the matter of one hour, I heard from two different buyers who would, in turn, become sellers. After doing the math, they decided NOT to upgrade to their dream homes and are staying put because their current interest rate is 4-5 points lower than what they would be trading into. It just didn’t make sense to take on a 7% mortgage, doubling if not tripling what they currently pay.
Contrary to earlier predictions, the cost of financing has skyrocketed despite the Federal Reserve's rate cuts. The market looks forward and so those rate cuts were baked in long before they happened. With the strong economy, many believe the Fed may only cut rates two more times this year, if at all, so the saga continues. All of this means I don’t expect a huge jump in inventory compared to previous years as people delay selling. Prices however will most likely still inch higher from the demand.
Coming Soon
Reach out if you have any questions!
I have a number of new and current listings we are gearing up to showcase on the market in the coming months.
- Two lovely homes in the Cliff Estates of Wellesley.
- A very special one of a kind home in Dana Hall, Wellesley that is walkable to town.
- A gorgeous luxury property in Weston.
- A Country Club home that is quite special and near the Brook Path.
- A young colonial near Wellesley High school is coming next week.
Currently on the Market
33 Royalston Road Wellesley
$6,595,000
7 Cliff Road Wellesley
$2,395,000
200 Pond Road Wellesley
$8,495,000
Public Service Announcement
In the last few weeks I have heard many stories about people dying or becoming very sick from Carbon Monoxide leaks. This is very dangerous especially during the winter months. Please make sure that you have working CO2 detectors at your house. It is as simple as plugging them into outlets on each floor of your home.
Here is a list that I found online to purchase them if that helps.
Click here for link
Have a great week! Stay warm.
