EXPERT CONTRIBUTOR
Do I Stay or Do I Sell Now?
By Theresa David, Gibson Sotheby's International Realty
Welcome to the spring market of 2022. The most frequently asked question: “Will more homes be coming on the market?”
We are all aware we have been in a whirlwind real estate market since March 2020 when COVID-19 hit. In the beginning, as the world shut down, Governor Baker declared a state of emergency for Massachusetts. Life as we knew it changed. All the medical professionals dedicated their time to help those in need. Public and private schools were ordered to close, gathering sizes were limited and our beloved Boston Marathon was postponed. There wasn’t much to watch on TV, no restaurants to dine in, no shops to browse. Yet, real estate agents were deemed essential workers.
During the pandemic, real estate rose to the forefront of many homeowner’s minds. With everyone home, 24/7, they noticed what their home may be lacking, whether it be an office, a bedroom, a larger kitchen and so on. Many went online to look at houses.
I myself had a few listings on and off market, so with the state guidelines and uncertainty of how COVID-19 was spreading, I had to make adjustments. I added Matterport 3D videos to my listings, along with professional photographs and floorplans, to give buyers an accurate portrayal of the home. Sellers wanted to limit showings and risk with potential buyers coming through their home. So with booties, masks and gloves, appointments were scheduled and homes were sold.
The next phase happened when open houses were allowed. I’m sure you all drove by an open house and saw the long lines. With limited inventory and a surplus of buyers flocking to our fabulous town of Westwood, it continues to be a seller’s market. Westwood is mainly known for our high-ranking schools, easy accessibility, proximity to commuter rails, highways, Hale Reservation, University Station, Islington Center, and so much more! (We all know why we love Westwood!)
The term “energy pricing” continued, where many realtors would price a new listing slightly under what they thought it would go for. What happened was beyond expectations. Buyers offering prices much higher than asking, removing contingencies, offering cash, waiving inspections, even willing to lease back to sellers. Real estate was and still is the talk of the town. Who knows… maybe there will be a spread on the final sale prices.
Well guess what? Even with interest rates on the rise, simply put, there are still more buyers than homes for sale. Great, right? If you have a plan it is. You need to ask yourself a few questions. At what price would we sell? Where would we move? Are we willing to rent until we find something? Will we be paying for storage? Everyone has their own specific needs and requirements.
The answer: You need to make the decision that works for you and hire an experienced Realtor to guide you through the process.











































































