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John Ternullo

December 2020 Real Estate Market Update

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We're taking a look at the north of Boston real estate market's specifically for Middlesex and Essex counties and comparing November 2020 to November of 2019.  Total inventory, the amount of homes available for sale, went down close to 27%.  Days on market, the time it's taking homes to sell, averaged about 30 days, another decrease of 27%.  The amount of homes sold went up 12%. Median prices went up to $560,000 an increase of 12% from last November. 

This past November was definitely a lot stronger for sellers compared to November of 2019.  If you are considering a move to the suburbs north of Boston contact us!

The Stevens-Coolidge Place Community Spotlight

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We were thrilled to be invited to decorate a tree for The Stevens-Coolidge Place Holiday Stroll & Festive Parade of Trees in North Andover.  The Stevens-Coolidge Place has been a favorite to visit in any season, but the flower gardens are especially beautiful in the spring and summer seasons.  This holiday event is smaller than previous events but still a wonderful way to enjoy the holiday season safely outdoors.  If you visit be sure to bring some canned goods to leave at your favorite tree.  Canned goods will be donated to Neighbors in Need.  Along with this video The Stevens-Coolidge Place will be giving away 2 complementary tickets to a Friday night fire-spinning hike.  

Check out Facebook and Instagram pages for details. 

Are Home Prices Headed Toward Bubble Territory?

Are Home Prices Headed Toward Bubble Territory? | MyKCM


 

Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the appreciation of residential real estate is well above historic annual averages. According to the Federal Housing Finance Agency (FHFA), [...]

2020 Toys for Tots Drive

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Photo by Barrett Ward on Unsplash

We hope you are staying healthy this holiday season! With the challenges facing so many families this year, we anticipate even more families will be in need this season.  If you are able, please consider donating a new unwrapped toy to our annual Marine Toys for Tots Drive. You can drop off toys in the back entrance at our Reading office, 248 Main St.  Or, our Andover office lobby located at 77 Main St.  New unwrapped toys will be picked up in Andover on Thursday December 10th, and Reading on Monday December 14th.  Thank you!

 

EasyKnock

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Our new normal during this pandemic means that we are all spending a lot more time at home.  It also means that many of us are realizing that our home just doesn’t quite fit our needs anymore.  Its been a seller’s market for some time now and with strong buyer demand it makes sense to take advantage of today’s market.  

So, do you buy first or sell first?  Contingencies in today’s market simply don’t work.  If you buy first, that could mean taking on two mortgages.  If you sell first, are you willing to rent, or do you have a place to go?  With the time and effort it takes to move, would you want to move twice?  Typically these were the only two options available to homeowners. Now there is a third option.  

We’ve partnered with a company called EasyKnock.  Through EasyKnock you can unlock the equity of your home, allowing you to put in a competitive offer without the contingency of selling your home first.  EasyKnock will buy your home and allow you to then rent it back.  You can then search for your dream home without worrying about your current value.  When you are ready to sell you can put it on the market to get full value.  Contact us to learn more about how this option might work for you!

 

Community Spotlight and Giveaway with Mill River Winery in Rowley, MA

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For November's Community Spotlight Michelle finally crossed Mill River Winery off her fall bucket list!  It was a perfect afternoon to enjoy a wine flight plus their delicious snacks and small bites.  The winery remains open for outdoor seating, don’t worry- they have patio heaters plus fire pit tables to keep you warm!  Mill River Winery is giving away two free tasting cards and wine glasses!  Please visit our Facebook and Instagram pages for details on how to enter!  We'll announce a winner Tuesday November 24th, Good luck!

 

November 2020 North of Boston Real Estate Market Update

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“Election results will lift the victors and devastate the party of the unsuccessful. It will not impact our local housing market,” proclaims Linda O’Koniewski, CEO Leading Edge. “Covid restrictions are dictated by the state. The work-from-home culture, appetite for more outdoor space, and the desirability of properties with home offices, views and more functional space determine our market neighborhood by neighborhood. Fueled by high demand, low supply and crazy, inexpensive borrowing power, some markets are red hot, while we see that some condos, particularly those that don’t reflect today’s trends, are starting to sit and price correct to sell. Sadly, we are going to start to see the financial impact of job loss on the market very soon, when people who cannot afford their mortgage decide to move.”

Check out the weekly market real estate market report for the suburbs north of Boston here.

If you're considering a move in the suburbs north of Boston we'd love to hear from you!

Call us at 617-275-3379 or Contact us here.

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

AndoverNorth AndoverNorth ReadingReadingWakefield and Stoneham

Be sure to like us on Facebook and follow us on Instagram for a behind the scenes of our day to day and favorite happenings north of Boston!

 

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