How to buy a home in a seller’s market

Franklin County

(WWLP) – A growing seller’s market exploded since the pandemic arrived, but a year and a half later, where do things stand now?

Corinne Fitzgerald with Fitzgerald Real Estate said demand continues to remain strong, and it doesn’t show signs of stopping. “We’re still seeing a lot of people come and find Franklin County and western Massachusetts as a nice place to live.”

Corinne Fitzgerald said it’s still a seller’s market, with many home buyers coming from outside the Pioneer Valley. With it being a seller’s market, what should you do if you need to sell your house? And then buy another one? Corinne said it could feel like a chicken or egg question.

Corinne Fitzgerald added, “They’re either going to need to pull equity from their home to be able to bridge both homes. Then put their house on the market, get a buyer and then to be able to have the ability to make it subject to finding a suitable housing. It’s a little tricky but it can be done.”

Corinne’s advice for sellers is, keep your prices fair so buyers will continue wanting to purchase in the area. For buyers, be patient and ultimately real estate is always a cycle.

Corinne Fitzgerald also mentioned, “Seller’s market, balanced market, goes to a buyer’s market it’s just the length of time between those cycles that makes the difference.”

She said one of the major challenges facing western Massachusetts right now, there aren’t enough houses to go around and that’s because the cost to build a new home here doesn’t match the median income.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Only on | Digital First

More Digital First

Trending Stories