2018 is Out the Window: Here’s the Recap
The market is still really low on inventory. Buyers are in the market now and ready to make purchases. If you are considering selling, it’s a great time. When Spring comes there will be more on the market for you to compete with. This may be a prime time to snatch a buyer.
The Massachusetts Association of Realtors announced the year end closed sales data for 2018
The MAR released their year end closed data on January 23, 2019 for 2018. Here is a quick summary.
Closed sales for both single-family homes and condominiums dropped year-over-year from last December. There was a small drop in median price for single-family homes and condominiums compared to this time last year and the month also saw the lowest number of single-family homes for sale in the month of December since MAR began reporting the data in 2004.
Year-end data for 2018 shows that total closed sales have had a two percent decrease for both single-family homes and condominiums. The year also saw an increase in average median prices for both single-family homes and condominiums compared to 2017. Without an increase in inventory in 2019, closed sale decreases and median price increases are trends that will likely continue.
“Whether it was December or all of 2018, the phrase that best describes this real estate market, was ‘lack of homes for sale’,” said 2019 MAR President Anne Meczywor, broker/associate at Roberts & Associates Realty Inc. in Lenox. “It’s not too much of a stretch to imagine we’ll be using the same phrase to describe 2019 if we can’t do something to increase production and encourage more homeowners who are on the fence about selling to put their homes on the market.” Massachusetts Association of Realtors President, Anne Meczywor
In the report, the MAR president said the following about mortgage interest rates.
“Interest rates are a wild card. If they rise, it could make homes less affordable and cut demand for the upper-end but may fuel increased demand in the more affordable range, which is already facing short supply.” said Meczywor.
You can download the full report on the single family and condo market in Greater Boston here
If you want to know what is happening in Boston Real Estate get the latest report here
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Houses and Condos We Need for Buyers
We need homes for the following buyers now.
I have couple who is looking to downsize from a 4 bedroom home in Medfield. They are looking for a single level condo with it’s own private entrance or a home in the tree streets of Norwood
A young first time buyer looking ideally to be in The Bridgewaters, Raynham, Norton, Middleboro, Easton 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