2018 is Out the Window: Here’s the Recap

From me….
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.

Download the report here

“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

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

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

Buyer #3

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

Buyer #4
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

 

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

 

 

About the author

Michael Mahoney

Michael Mahoney

Boston Realtor

Michael Mahoney is a full time Realtor in Boston, Massachusetts. Michael covers most of Greater Boston. Michael's focus areas are primarily Norfolk and Suffolk Counties. You can reach Michael via email at mike@mmahoney.com or via phone at 617-615-9435. Michael is a sales agent affiliated with Century 21.

Chat with Mike Live Now

More posts