Boston Realty by Realtor Michael Mahoney of eXp
Michael Mahoney
617-615-9435617-615-9435

October 17th Boston Real Estate Market Update by Realtor Michael Mahoney

Greater Boston Real Estate Report by Realtor Michael Mahoney - click display images to see the full report

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year.

CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change,

One of the major factors that has driven prices to accelerate at a pace of between 6-7% over the past two years was the lack of inventory available for sale in many areas of the country. This made houses a prized commodity which forced many buyers into bidding wars and drove prices even higher.

According to the National Association of Realtors’ (NAR) latest Existing Home Sales Report, we are starting to see more inventory come to market over the last few months. This, paired with patient buyers who are willing to wait to find the right homes, is creating a natural environment for price growth to slow.

Historically, prices appreciated at a rate of 3.7% (from 1987-1999). CoreLogic predicts that prices will continue to rise over the next year at a rate of 4.7%.

Bottom Line

As the housing market moves closer to a ‘normal market’ with more inventory for buyers to choose from, home prices will start to appreciate at a more ‘normal’ level, and that’s ok! If you are curious about home prices in your area, talk to a local real estate professional who can show you what’s going on!

Have a question about the value of your house?

Houses and Condos We Need for Buyers

As I mentioned above, the inventory is quite low. This week, we have 4 buyers that we are working with to find houses and condos for.

We need homes for the following buyers now.

Buyer #1

The next person we are looking for is a buyer who is looking purchase a condo. The buyer can spend about $200k. The condo fee should not exceed 300/month. The ideal location would be Framingham, Natick, Holliston, Ashland but we are “open” to other areas.

Buyer #2

The next buyer is a 1st time buyer who is looking to purchase in Watertown, Natick or Framingham. This buyer can spend up to 475k.

Buyer #3

We have a buyer who is looking in Dedham for About 400k – One level living is the most important factor.

Buyer #4
A young first time buyer looking ideally to be in “The Bridgewaters, Raynham, Norton or Taunton. Their purchase price is up to 325k.

If you know of anyone who may have a house or condo which fits these folks, reach out to me @
617-615-9435 or send me an email

 

Career in Real Estate

Considering a career change to real estate, eXp realty and my team is growing – Reach out if you are considering a career change. You can call me if you would like. The best # is 617-615-9435.

I am currently looking for one or two agents to join me on my team. If you are not licensed, I am happy to explore what a career in real estate may look like and how to go about licensing.

See more about eXp Realty here






logo Michael Mahoney Realtor, eXp Realty

617-615-9435
www.RealtorMikeMahoney.com
mike@mmahoney.com

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Reviews

5suzannechapman1208

I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

5goodlife99

This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

5SullyLemmons

We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

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