Boston Realtor Mike Mahoney
Michael Mahoney

Posts Tagged ‘Report’

Massachusetts Real Estate: What’s Happening Today?

May 16th, 2019 by Michael Mahoney

Massachusetts Real Estate: What’s Happening Today?

The quarterly report on the entire State of Massachusetts for Q1 has been released.

The amount the sellers achieved against their asking prices was down slightly in all counties with the exception of Berkshire County. 

Buyers You are Not Going Swindle Your Way In

I know some of my buyer clients will read into the report and be rubbing their hands together with a big greedy smile like a wolf eyeing a lap dog.  Buyers – The sky is not falling. Prices are still up. It’s not the case in every town and it’s going to vary town by town.

If you are the Wolf of Wall Street type, there seems to be a few more foreclosures available lately. See some Boston area foreclosures here

Please make sure you are working with an experienced Realtor who has been in shifting and emerging markets. Hint hint…

Bad purchase decisions usually show up when exiting the property.  If you don’t make a good purchase, you will pay when you sell.

Whatever you do, please don’t rely on Zestimates.

Our latest reports breaks down 3 Greater Boston counties zip code by zip code. If you own, rent or invest in real estate you will not want to miss this report. In this report, we cover Suffolk, Norfolk and Bristol County

If you want the entire state report, reach out to me. – Click here to get the full report

March 2019 Pending Sales

April 15th, 2019 by Michael Mahoney

March 2019 Pending Sales

The number of single-family homes put under agreement in the month of March rose over 15 percent and the number of condominiums put under agreement rose over nine percent compared to the this time last year. This marks 12 straight months of year-over-year increases for single-family homes. The median price for single-family homes put under agreement saw a six percent increase to $390,000, while condominiums saw a five percent decrease to $375,000 compared to March of 2018.
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2018 is Out the Window: Here’s the Recap

January 24th, 2019 by Michael Mahoney

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

2018 is Out the Window: Here’s the Recap

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 DecemberThere 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.

In all of my previous blog posts, all indicators show that interest rates will remain low. The did spike up at the end of 2018 and were blamed for some of the sales. You can read the blog post titled “Existing-Home Sales Plunge 6.4%, Mortgage Rates Blamed” here

Regarding rates and the market, Fannie Mae indicates that there will probably only be one interest rate increases in 2019. Here is the article titled “Fannie Mae: Housing market will stabilize in 2019





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