Even with everything else going on in the market, the trade-up buyer is back!
Wednesday, September 1st, 2010The news and maybe the gossip are all about questions regarding the housing market. But one thing is certain, trading up is back. The trade-up buyer is someone who doesn’t need to buy, but is selling a less expensive property and treating themselves to a more expensive home. Often in the same or neighboring community.
So far this year, my listing at 10 Bolton Lane in Westport sold to a family who was moving less than a mile from their previous location to this beautiful riverfront home. Then, 22 Michaels Way sold in Weston to a family from Wilton moving to Weston. Then there was 10 Elizabeth, which sold to a young family moving from Norwalk. And lastly my listing at 15 Homeward Lane in Weston is selling to a current Weston weekend family who are trading up weekend homes.
My other listings and buyers were our usual New York families or people relocating to Westport for jobs,schools and other reasons. But the trade-up market was the part of the market that was missing for the last two years, and I for one and happy to see it come back. Because when people are trading up, they are usually doing so for reasons that reflect stability and choice.
