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If you’ve been thinking about selling your home in Melrose, you’ve probably been wondering what the market is actually doing.
The short answer? Good homes are still selling, but buyers are paying attention.
We’re seeing a noticeable difference between homes that come on the market priced and prepared well from the start and homes that test the market at a higher price. Buyers have more choices than they did at the height of the crazy market, and with higher monthly payments, they’re being a little more careful about what they’re willing to pay for.
That doesn’t mean sellers need to renovate their entire house or price low. It just means the details matter.
What should you do to your house before selling?
This is probably one of the questions we get asked most often.
And our answer is different for every house.
Sometimes fresh paint, updated lighting and a good clean-up are all you need. Other times, there may be a few projects worth tackling before you list. And sometimes we walk through a house and tell the sellers not to spend the money at all.
We see a lot of older homes in Melrose with kitchens and bathrooms that aren’t brand new. That doesn’t automatically mean they need to be renovated before selling.
The question is whether an update is actually going to help you sell for more — and enough more to make the cost and hassle worthwhile.
We’d much rather have that conversation before you start spending money.
Pricing matters from day one
We know why sellers are tempted to start high. You can always come down, right?
Technically, yes. But the first week your home is on the market is important.
That’s when buyers who have been waiting for something new in Melrose are paying the most attention. If the price feels too high, they may decide to wait instead of making an offer.
Then a few weeks go by, the price comes down, and suddenly buyers are wondering why the house hasn’t sold.
That’s why we spend so much time looking at the most relevant recent sales before recommending a price. Not just what sold in Melrose, but what sold nearby, what condition it was in, how it compared, and what else buyers will be looking at when your home hits the market.
Buyers: you may have a little more room to breathe
If you’re buying in Melrose, you don’t necessarily have to approach every house assuming there will be 15 offers.
Some will still be competitive. A great house in the right location that is priced well can move very quickly.
But there are also homes where buyers have more negotiating room than they would have had a few years ago. Properties that have been sitting, homes that need some updating, or listings that came on a little too high can all be worth a closer look.
The important thing is knowing the difference between a house that is sitting because there’s an opportunity and one that is sitting because the price still doesn’t make sense.
And if you’re thinking about moving from the city to Melrose…
We continue to work with buyers making the move from Boston and Charlestown to Melrose and the surrounding area.
For a lot of them, the move starts with wanting more space, a yard, easier parking or a different day-to-day lifestyle without giving up access to Boston.
But Melrose can be surprisingly neighborhood-specific. Being close to Oak Grove is different from being near the commuter rail. Living close to downtown feels different from being farther out toward the East Side or Mount Hood.
Those are the kinds of things that are hard to understand from a listing online — and they can make a big difference in where you ultimately want to live.
Thinking about making a move?
You don’t need to have everything figured out before reaching out.
If you’re considering selling, we’re happy to walk through your house and tell you what we think is worth doing — and what we wouldn’t spend money on.
If you’re buying, we can help you get a better feel for the different parts of Melrose and what your budget realistically gets you right now.
Sometimes the best place to start is just a conversation.
Nick Lento + Stephanie Rivkind
Lento + Rivkind | Coldwell Banker Realty
