Inventories Decline, Market Heats Up, Brokers Unable to Return Calls. These are a few of the headlines found by those searching for a primary or secondary home.
Of course, much depends on the location of interest; nevertheless, the escape from cities and highly dense populated areas are driving consumers to the pristine farms, fields, and villages of the SouthCoast and coastal Rhode Island.
It’s no surprise to the local real estate market, that as soon as choice properties are listed, and before they make it to Multiple Listing Service (MLS), full-price offers stream into brokers, sometimes causing a bidding frenzy from buyers around the country.
The best homes with exceptional amenities are not always visited by potential buyers. At specific price points, those having a serious interest in moving to the region aren’t focused on the current condition of their purchase. Instead, they’re interested in a property’s potential after renovations and improvements.
Demand for luxury living and vast amounts of space never dies; in fact, it barely shows its age. Generation after generation gravitates to places where they can start a family and create a safe and satisfying lifestyle. They are on the lookout for privacy and stress free occupancy.
Since COVID-19 came to our shores, followed by lockdowns and mandatory isolation, the itch that needs soothing is showing in select counties in New England; as families retreat from cities and crowded suburbs. Top agents are noticing an exodus from high-rise condos and traditional office settings, to relaxing and all-inclusive home environments.
Compounding the interest to abandon metro areas has been the lax enforcement of penal codes, and an increase in civil unrest. It’s doubtful that peaceful, public protests, contribute to a desire to leave areas of culture; but when a perfect storm of violence and discourse begins to gather strength and ridiculous tax burdens are packed on, a beachfront property begins to look like a bargain.
No one knows more about today’s buyers than Broker/Owner Will Milbury of Milbury & Company of South Dartmouth—and soon to be, Westport, Massachusetts.
“Am I insane to be opening a new office during a pandemic?” Milbury asked us during our interview. While it’s a bold move and a challenge, he acknowledged that when the opportunity came about, “…everything fell into place.”
Milbury may be called crazy or, at the very least, a risk-taker for opening another office at this time. Still, he is conscious that he needs to keep up with demand and understands what customers are looking for in today’s market.
“Our [South Dartmouth] office has been inundated with buyers seeking refuge on the SouthCoast,” Milbury explained. Those who know his team of agents from the Elm Street location agree the company has a significant work-history in Westport and has sold a considerable number of homes since the ‘80s.
For over 40 years, Milbury has built a brand based on servicing a discerning clientele from around the world. He hasn’t lost his boyish charm from his days on Beacon Hill and in the Back Bay or his quest for excitement found during his annual trek to Wellington, Florida, where he follows equestrian sports while socializing with stars and celebrities.
Milbury’s insights come from a confidential list of international movers and shakers at the highest levels of power and influence. He shared his observations with us when he says, “People are tired of the cities, they come to the coast and see how much more their money can buy.” Once they compare the lifestyle to what they currently experience, the rhetorical question is simple: “Who doesn’t want to live here?”
As a leading real estate professional, Milbury interacts with the other top agencies in the northeast corridor and recognizes that working together has been the secret behind everyone’s success. “We look at the market as a whole; no one owns it but, we all have a responsibility to the communities we serve, and its because we value good relationships with other offices, our business flourishes,” he added.
The new office was the former home of the Westport Federal Credit Union, which shared the parking area of Lee’s Market on Main Road. Centrally located to premier properties in the deepest parts of South Dartmouth, Westport, Little Compton, and Tiverton, Milbury & Company will be able to expand their exclusive brand by offering greater exposure to sellers and vast new inventory to buyers.
Milbury’s business’ sweet spot is his mix of clients. He has those looking for an over-the-top primary residence where they can set up roots and enjoy the amenities only ocean-front communities offer and exclusive buyers who may use their palatial compound a couple of weeks during the summer—but insists on anonymity and confidentiality.
While most individuals would be readying for retirement, from our conversation with Milbury, he seems to be warming up for another adventure and to continue the thrill of the hunt—for a new listing—of course.
Milbury Company/Westport is located at 790 Main Road, Westport, Massachusetts. To learn more call 508.997.7400.
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