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Bidding wars in Quincy?

Posted by Scott Van Voorhis April 3, 2014 10:56 AM

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Quincy right now is one of the most competitive communities in the Boston area for buyers looking to land a home, Redfin stats show.

There is an average of seven offers for every home sold now in the City of Presidents, which is gearing up for a massive makeover of its downtown.

The median list price is a relatively affordable $300,000, according to Redfin.

Homes near Wollaston Beach are getting lot of eyeballs right now. One spiffy Victorian with ocean views just fetched nearly $450,000.

Just check first to make sure you are not in a "flood plain" - the insurance could be a killer!

"It's the new hot place that is close to Boston," said one South Shore broker who has been busy selling homes in Quincy.

The number of offers may sound high, but Quincy is not alone in attracting intense interest, especially from first-time buyers and young families looking to get a start.

In fact, up-and-coming blue collar and middle class communities are drawing the most buyers as the spring market kicks in, Redfin stats show.

Malden, where the median sale price is just under $280,000, boasts more than 6 offers for every home sold. Ditto for Watertown, where the median sale price is $325,000.

By contrast, the upscale suburbs aren't faring as well, as least when ti comes to drawing multiple offers.

Just take Hingham, where the median sale price is $520,000 and homes that sell are averaging just one offer. Same in Wellesley, where the median sale price is $995,000.

Yes, there are buyers out there who can swing that price. But it's definitely a smaller pool.

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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