Tight Supply, Soaring Demand in Pandemic-Fueled Real Estate Boom

Jill O'Donnell with her partner Tim Hicks and daughter Ellie.

April 6, 2021 by Ally Donnelly 

Jill O'Donnell describes her hunt for a new home in Hingham. "It just feels crazy," she told me. "Like, all logic has gone out the window." The Hingham mom and her partner Tim Hicks searched for a bigger house for months and soon learned it was a kill or be killed seller's market. Open houses are canceled midstream as offers flood in. Buyers have been paying cash, waiving inspections, pulling the trigger sight unseen.

They tuck personal letters and pictures of their children into offers one hundred thousand dollars or more over asking. "It's really a perfect storm," Coldwell Banker's Wallis Bowyer told me. She points to buyers flooding in from the city, locals wanting home offices and more outdoor space and historically low interest rates. "We're on a wild ride at the moment."

How long will it last? Will the market bear the skyrocketing prices? Will average families get pushed out of Hingham? And who will skip us from the get go? Today's episode is a terrific conversation on the eye-popping sale prices and what they could mean for our community in the long run. Join us!

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