If you`re looking to buy a home in Westwood, MA, you may have encountered the phrase “homes under agreement.” But what does it mean, exactly? And why is it important to know?

Simply put, a home under agreement is a property that has an accepted offer from a buyer, but the sale has not yet closed. This means that the seller has agreed to the terms offered by the buyer, but there are still several steps that need to be taken before the transaction can be completed.

Why is this information important? For one thing, it can give you an idea of the current real estate market in Westwood. If there are a lot of homes under agreement, it could indicate a strong seller`s market, where homes are selling quickly and for high prices. On the other hand, if there are few homes under agreement, it could suggest a buyer`s market, where there are more homes available but fewer buyers.

Knowing how many homes are under agreement in Westwood can also help you make informed decisions as you search for your own dream home. If you see a property that you`re interested in, but it`s already under agreement, you`ll know that you need to act quickly if you want to put in an offer. Conversely, if you see a home that has been on the market for a while but has few or no offers, it may be a sign that you can negotiate a better price.

Of course, it`s worth noting that not all homes under agreement will actually close. Sometimes a sale falls through due to issues with financing, or inspections reveal problems with the property that the buyer is unwilling to accept. However, in general, homes under agreement are a good indicator of the health of the real estate market in Westwood.

If you`re interested in buying a home in Westwood, it`s worth keeping an eye on the number of homes under agreement. You may also want to work with a real estate agent who can help you navigate the market and find the home of your dreams. With the right information and guidance, you can make an informed decision and find the perfect home in this beautiful Massachusetts community.