John Ternullo

North of Boston Real Estate Market Update April 2024

Welcome to our April market update! We're looking at single family homes sold in Middlesex and Essex counties and we're comparing March of 2024 to March of 2023. Inventory remains a problem and fell by close to 10% last month. Units sold also dropped by close to 11%. The number of days on the average home was on the market didn't change much, going from 43 days on average up to 44.

Many people talk about the homes that are selling within a week, but the reality is is many homes are taking much longer! Buyers should know that median prices went from $718,000 up to $800,000 - an increase of close to 11.5%. We're often asked by potential home sellers, "is it really worth the effort in home prep if the market is so hot?" We can tell you that homes that are priced right and look great are commanding top dollar through multiple offers. and often are selling within a week. Homes that are taking much longer to sell are likely selling for under asking. Home prep could be the difference of tens of thousands of dollars. If you are considering making a move in in or out of the suburbs North of Boston give us a call at 617-275-3379!



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North of Boston Home Sellers Seminar March 2024

Sell Smart ! Your Path to a Successful Home Sale Seminar


Click the link below to sign up!

Wednesday , March 6th, 2024 at 5:30 PM  Leading Edge Real Estate,  248 Main St, Reading, MA, 01867

Wednesday, March 13th, 2024 at 5:30 PM Leading Edge Real Estate, 77 Main Street, Andover, MA, 01810


Sell Smart! Your Path to a Successful Home Sale Seminar

Are you feeling overwhelmed by the thought of selling your home? Don't miss our exclusive seminar, designed to empower you through every step of your home selling journey!


Key Topics You Can't Afford to Miss:

Smart Home Fixes: Invest Wisely

Discover which home improvements are worth your time and money, and which are just empty expenses. Maximize your return on investment by focusing on what truly matters.

Starting on the Right Foot: Your Home Selling Blueprint

Learn how to initiate the home selling process confidently. From setting the right price to staging your home for success, our experts will guide you through the crucial first steps.

Navigating Legal Landmines: Protecting Your Interests

Avoid the legal pitfalls that can derail your sale. Gain insights into contracts, disclosures, and potential issues, ensuring a smooth and hassle-free transaction.

Timing Your Success: When to Sell for Maximum Impact

Uncover the secrets of market timing. We'll reveal the best seasons and strategies to sell your home for top dollar. Don't miss your chance to seize the perfect moment.

Why Attend?

Personalized Guidance: Our experienced real estate team will be there to answer your questions and provide tailored advice.

Stress Reduction: Learn how to manage the emotional aspects of selling, from decluttering to saying goodbye to your beloved home.

Empowerment: Take control of your home selling journey and gain the confidence to make informed decisions.

Join us at "Sell Smart! Your Path to a Successful Home Sale Seminar", and let us transform your overwhelming home selling process into a confident and successful venture. Your dream lifestyle is within reach—reserve your seat today!


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The Ternullo Team's 2024 Annual Reports are in!

The Ternullo Real Estate Team is pleased to present our 2024 Annual Reports! 

This comprehensive report reviews statistics and median prices of single family, multi family and condo homes, as well as Michelle's home and style trends for 2024! 


Middlesex County                                                                                            Essex County       




Andover / North Andover                                                                          Reading / North Reading




Stoneham / Wakefield


Legal Bombshells Reshaping Real Estate: What the Industry's Lawsuits Mean for You

As you've probably heard, a recent wave of legal cases is poised to potentially reshape real estate transactions in the United States. These developments are not just legal footnotes; they could directly impact how you buy or sell your home. Here's what you need to know:

Understanding the Issue

At the core of these legal battles is the question of how real estate commissions are structured and shared. Lawsuits, primarily targeting the National Association of Realtors (NAR) and several major real estate franchises, argue that the current system unfairly inflates home selling costs. These cases challenge the practice where sellers pay not only their agent's commission but also that of the buyer's agent. This arrangement is alleged to maintain high commission rates industry-wide and limit competition, potentially violating antitrust laws.

Key Cases to Know

  1. Sitzer | Burnett Case: This Missouri trial resulted in a significant jury verdict against NAR and various franchisors for allegedly conspiring to keep commission rates high. The verdict is under appeal, but its implications are far-reaching.
  2. Moehrl Case: Set to go to trial next year in Illinois, this lawsuit echoes the Sitzer | Burnett case, challenging the commission structure and practices of NAR and other large real estate entities.
  3. Gibson, Batton, and Other Cases: These lawsuits, filed across the country, involve both homebuyers and sellers and challenge similar practices.

My Thoughts

Is there a conspiracy? The real estate industry is fiercely competitive. In my experience, agents frequently adjust their fees to stand out, and sellers have a range of choices in agents, services, and fees. To suggest a widespread conspiracy to keep prices high seems contrary to the competitive nature I've observed in our market.

Should Sellers Pay for Buyers Agents? While compensation is typically taken from the seller’s side of the closing statement, it's important to remember that ultimately, it's the buyer’s funds that are purchasing the property. Buyers cannot include a buyer's agent professional fee in their mortgage, and most, already facing high closing costs, prefer to include it in their purchase price. While I don't believe there is a conspiracy, we need to be transparent on how agents are paid and the options available to all parties when they hire an agent.

Historically in real estate, all agents represented sellers, with buyers typically not having their own representation. In the 1990s, the concept of buyer's agents emerged to advocate specifically for buyers. Listing agents would share their fee with buyers’ agents as a way to market their listing and attract buyers through their agents. Despite this change, the tradition of sellers paying all the commissions continued, a practice originally established when all agents worked for sellers.

Time for Change, But with Challenges: It's time to rethink this model. Critics point out that agent commissions in the US are higher than in many countries, however, there is more to that story. Many countries operate more like the US did 50 years ago, with no MLS and cooperation between agents. Homes are typically listed with multiple agents, and only the agent who secures the buyer gets paid, so the incentive to spend money to market the home is reduced because there is no guarantee that the listing agent will be paid. This inefficient and disorganized way means that home buyers looking for a specific property need to contact multiple brokers in hopes to find what they are looking for. For sellers, the lack of exposure can have a direct impact on the sales price. It also means that without a strong MLS, data on home sales is hard to find, making pricing unpredictable.

It is counter-intuitive that a seller would want to pay for someone that is negotiating against them, but when asked if they want to offer a co-broke fee in MLS, the logical response is, “How excited do you want Buyer’s Agents to be to sell your home?” When a seller lists their home, they are searching for an active, willing, and able buyer. When a seller accepts an offer from a buyer’s agent, it’s because the buyer’s agent is bringing the best offer currently available in the market.

While buyers' agents advocate for buyers, they also play a crucial role in educating and guiding their clients, often bringing stability and knowledge to transactions. We have found that unrepresented buyers typically bring more uncertainty to home sellers as they may be unfamiliar with market norms and typical risks buyers normally accept.

However, changing this model isn't straightforward. If buyers were responsible for their agent's fees, it could add financial strain, particularly for first-time buyers already struggling with down payments and rising home costs. Home buyers may be forced to decide whether or not to have representation, view a home, or pay a buyer’s agent fee out of pocket.

What home sellers should know: There are no “standard” fees in real estate. Fees are negotiable between sellers and their agents. You are not required to offer compensation to buyers’ agents. If you choose to offer compensation to a buyer’s agent for marketing purposes, it should be stated in your listing agreement and confirmed that amount is reflected in MLS. If you decide to offer a buyer’s agent fee, you should know up front what the total fee would be if your buyer is unrepresented. Lastly, be aware that a buyer may request a different buyer’s agent fee as part of their offer and this fee can be negotiated along with price and terms.

What home buyers need to know: Buyers’ agents are not free. Buyers’ agent fees are negotiable. Agents can be compensated from the buyer directly, from the seller/listing agent, or from a combination of both. (A buyer may not finance this fee in their mortgage but depending on their down payment, they may be able to use a seller’s closing cost credit) As a client, you should know your agent’s fee. Understand upfront how you and your agent will approach listings that are not offering compensation to your agent.


The real estate industry stands at a pivotal crossroads, with ongoing legal challenges signaling potential shifts in how we approach property transactions. The future may be uncertain, but one thing remains clear: knowledge is a powerful tool. We are committed to ensuring that our clients are well-informed, empowering them to make decisions that lead to successful outcomes in their real estate journey.

New Listing! 3 Jones Avenue in Woburn For Sale $599,000!


3 Jones Avenue Woburn MA  |  For Sale $599,000

3 Bedrooms    1.5 Baths     1186Sf

Open Houses

Saturday, September 16, 2023 12:00 PM - 1:30 PM

Sunday, September 17, 2023 12:00 PM - 1:30 PM


A Charming Home with Modern Touches! Welcome to this beautifully updated Dutch Colonial Home full of character and modern amenities. The heart of this home is the brand-new kitchen featuring gleaming white cabinetry, quartz countertops, and stainless steel appliances. The dining room, filled with natural light connects seamlessly to both the kitchen and living room, making it an ideal space for gatherings and everyday living. Upstairs, you'll find three cozy bedrooms, two spacious and one smaller room – perfect for a home office or a child's bedroom. Both the upstairs full bath and the downstairs half bath have been recently renovated, boasting fresh finishes and modern fixtures. Situated in a lovely neighborhood, this home offers a perfect blend of vintage charm and contemporary convenience. Add some exterior finishing touches and enjoy all the comfort of 3 Jones Avenue.



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North of Boston Real Estate Market Update July 2023

Welcome to our July market update! We're taking a look at the North of Boston real estate market, specifically single-family homes that sold in Middlesex and Essex counties, and comparing June of 2023 to June of 2022. So last year there was very little on the market and many of us complained that there were not enough homes to sell. However, this June we're actually down even further. Inventory is down 40% and as a result of that the total number of homes sold is down 30%. Days on market went from 18 days on average up to 24 days on average, and median sales prices remain steady from $685,000 down to $681,000.

So we're starting to see some seasonality come back to the market and over the past few weeks the intensity of the market came down just a small notch. This is nothing for home sellers to worry about, as there is very little on the market. So if you're thinking about selling your home you would still have a lot of leverage. If you take the time to prep your home so it is shown in the best light when you hit the market, you have your best shot of attracting buyers that are not only willing to pay top dollar for your home, but also give you the best terms. If you're thinking about buying or selling a home in the suburbs North of Boston give us a call at 617-275-3379!


Curious about the numbers for your area?  Click the link for your town!

AndoverNorth AndoverNorth ReadingReadingStonehamand Wakefield


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Two Questions To Ask Yourself if You're Considering Buying a Home

Two Questions To Ask Yourself if You’re Considering Buying a Home


If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot. 

To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision: 

1. Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists. 

According to the latest release, the experts surveyed are projecting slight depreciation this year (see the red in the graph below). But here’s the context you need most. The worst home price declines are already behind us, and prices are actually appreciating again in many markets. Not to mention, the small 0.37% depreciation HPES is showing for 2023 is far from the crash some people originally said would happen.

Now, let’s look to the future. The green in the graph below shows prices have turned a corner and are expected to appreciate in 2024 and beyond. After this year, the HPES is forecasting home price appreciation returning to more normal levels for the next several years.

So, why does this matter to you? It means your home will likely grow in value and you should gain home equity in the years ahead, but only if you buy now. If you wait, based on these forecasts, the home will only cost you more later on.  

2. Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates have risen in response to economic uncertainty, inflation, and more. We know based on the latest reports that inflation, while still high, has moderated from its peak. This is an encouraging sign for the market and for mortgage rates. Here’s why.

When inflation cools, mortgage rates generally fall in response. This may be why some experts are saying mortgage rateswill pull back slightly over the next few quarters and settle somewhere around roughly 5.5 and 6% on average.

But, not even the experts can say with absolute certainty where mortgage rates will be next year, or even next month. That’s because there are so many factors that can impact what happens. So, to give you a lens into the various possible outcomes, here’s what you should consider:

  • If you buy now and mortgage rates don’t change: You made a good move since home prices are projected to grow with time, so at least you beat rising prices.
  • If you buy now and mortgage rates fall (as projected): You probably still made a good decision because you got the house before home prices appreciated more. And, you can always refinance your home later on if rates are lower.
  • If you buy now and mortgage rates rise: If this happens, you made a great decision because you bought before both the price of the home and the mortgage rate went up.

Bottom Line

If you’re thinking about buying a home, you need to know the facts on what’s happening with home prices and mortgage rates. While no one can say for certain where they’ll go, expert projections can give you powerful information to keep you informed. Let’s connect so you have a professional to add in an expert opinion on our local market.

New Listing in Reading! 11 Avalon Rd, Reading MA 01867

11 Avalon Rd, Reading MA 01867
4 bed | 2 baths | 2,467 sqft
Price: $1,049,000

Welcome to this handsome Cape Cod style home, ideally situated in a highly sought after neighborhood in Reading's west side. Boasting a picturesque exterior and a delightful backyard, this property offers a perfect blend of comfort, style, and entertainment options. Inside you will be greeted by a warm and inviting atmosphere that exudes character and timeless charm. With two bedrooms upstairs and two bedrooms downstairs, the living space offers versatility with a flexible layout allowing for convenient one-level living. The backyard of this home is truly a retreat in itself, providing a beautiful backdrop for relaxation and outdoor gatherings. Take a dip in the refreshing and heated in-ground pool, perfect for beating the summer heat or hosting memorable poolside parties. The expansive yard also offers ample space for both games, activities and gardening. Additional expansion potential and basement for additional living area. Located minutes from Rt 93, 95 & Readings commuter rail.

Click here to learn more!

See it at an Open House! 6/23 from 5-6:30PM and 6/24 and 6/25 from 12-1:30PM 



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