Norwood Realtor Says More Buyers Than Homes For Sale a Good Thing

Norwood realtor Patty McNulty, owner and broker of McNulty Realtors said she is seeing a current trend in the real estate market that she feels is good news.

According to McNulty, the market is flush with buyers to the point where there are not enough houses for sale in Norwood to meet the demand. As a result, many homes are receiving multiple bidders.

“We are finding that inventory is not on the market for long and there’s usually multiple bidders on it,” McNulty said. “There’s been a trend lately of over-asking offers and we haven’t had that in a number of years.”

“I think it’s a good thing. I think it shows that the economy is bouncing back. I think that the level of buyer is much more capable so it will avoid the problem that we had years ago when people were getting a loan, really, with no documentation,” she said.

McNulty said the influx of buyers should not drive the price of a home up or down.

“No. I think the homes are typically priced at fair market value and I think that’s holding strong that the homes are priced right that I’ve seen. There’s just an abundance of buyers,” she said.

Asked whether she thinks the trend would last McNulty said she is optimistic.

“I do think it will continue. There’s always a slowdown between the holidays, which is Thanksgiving to the first of the year, but I think that’s the same every year in this business. Other than that I think it will continue,” she said.

“I know the news reports will vary from what I say but I think last year was a very busy year in real estate and I think it’s getting even more so this year. So, I see that as a trend at this point, that the market is going up, things are continuing on and I think that the economy is strong and it’s a great improvement,” McNulty said.