Blog :: 04-2021

Will the Housing Market Maintain Its Momentum?

Will the Housing Market Maintain Its Momentum? | MyKCM
 

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

Lawrence Yun, Chief Economist at NAR, explains in the report:

"The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising."

Yun’s insight was supported the next day when the Census Bureau released its Monthly New Residential Sales Report. It shows that newly constructed home sales are up 20.7% over the previous month.

Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.

What will this mean for home sales going forward?

Fannie MaeFreddie Mac, and the Mortgage Bankers Association (MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next.

Here’s a graph showing those projections:Will the Housing Market Maintain Its Momentum? | MyKCM

Bottom Line

Living through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.

    Comments

    1. No comments. Be the first to comment.

    For Sale! 12 Blossom Road, Windham, NH 03087

    Welcome to 12 Blossom Road!   This updated gambrel style home features a stylish interior on a great lot located in one of Windham's most coveted neighborhoods! The white kitchen boasts granite counters, stainless appliances and overlooks a family room, ideal for games and play!  The dining room provides plenty of space for entertaining and living room shows off accents of shiplap and a whitewashed fireplace.  Upstairs consists of 3 spacious bedrooms and full bath.   What a backyard!  The deck awaits evening gatherings, the fenced in yard is ideal for outdoor fun and the in-ground pool is sure to make make the most out of the summer months!  Convenient 1 car garage and stand by generator!  Down the street from Windham Country Club, walking trails, shopping, restaurants and Route 93

    Click here for virtual tour!

    Comments

    1. No comments. Be the first to comment.

    For Sale! 23 Hansom Dr, Merrimac, MA 01860

    This Classic, New England Cape style home exudes an abundance of curb appeal in a pretty, sought after Merrimac neighborhood! Inside you'll find a spacious layout ideal for everyday living and entertaining. The updated eat-in kitchen comes complete with chef's appliances, including Wolf gas cooktop and double wall oven. Outside the kitchen, the maintenance-free deck expands the entertaining area to seamlessly connect to the massive game room, an impressive space designed for games, laughs and fun! The first level also consists of living room, dining room, laundry and dedicated space for the essential home office. Upstairs you'll find 3 generous sized bedrooms, main and master baths. The basement is also finished to add additional space for movies, exercise or homework. 2 car garage, central air and many other updates! Located in an ideal setting down the street from Sweetsir Elementary, adjacent to walking trails, and convenient to shops, restaurants and Route 495/95.

    Click here for more photos and details and open house information!

    Click here for virtual tour!

     

    Comments

    1. No comments. Be the first to comment.

    North of Boston Real Estate Market Update April 2021

     Last March after everything shutdown we had a huge decline in the amount of new homes being listed on MLS. Despite fewer listings on MLS when we're looking at March of 2021 we still had close to 31% less inventory than March of 2020. Even though there were fewer homes on the market buyer demand remains so strong that in March of 2021 we actually saw an increase close to 3% in the amount of homes sold.  Days on market is down as well too close to about 18%.  Median sales prices are up close to 10% compared to what we saw last March. The market remains strong however some sellers are under the impression that because the market's strong they can take some shortcuts. However, what we've seen and what we recommend to sellers is don't take those shortcuts because it could cost you tens of thousands of dollars. We've seen buyers pay $25k-$100k over asking. So if you're looking to maximize the sale of your property don't take any shortcuts now. For buyers out there it is certainly a frustrating market and many are thinking maybe they should put their search on pause and resume later on. In our opinion that's not a good idea. We have seen more listings come on the market every week. Now having said that the market remains strong. We're seeing most of the new listings coming on the market get absorbed by buyer demand. So if you are prepared to put in a strong offer not just a competing offer but one that will get accepted our advice is to keep looking.

     If you have any questions and you're thinking about buying or selling in the suburbs north of Boston give us a call  at 617-275-3375.

     

    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!

    Comments

    1. No comments. Be the first to comment.

    Community Spotlight with Olive & fig

    We were thrilled to meet up Ali Crohan, founder of Olive & fig for April's Community Spotlight!  We chatted with Ali about how she started and grew her business, plus how to create the perfect charcuterie board.  Yum!  Ali was able to grow her business in the midst of the Covid-19 pandemic.  Stay home and eat cheese?  Yes, please!!  Check out the video above to learn more about Ali and Olive & fig.  Check out her Instagram for a peak at some of her boards, plates and other offerings.  

    Or, watch the video below to learn how to create a beautifully delicious board of your own.  Better yet, head over to her website to order your own!  She also offers private and public workshops, such a fun girls night idea!

    As part of a giveaway for this month's Community Spotlight, Ali is offering a small cheese & charcuterie spread to one lucky winner!!

    Check out our Facebook and Instagram pages for all the details!  We'll announce a winner Monday April 19th!

    Here are some of Ali's must haves for created your perfect charcuterie board:

    1. Top cheese choice- Truffle Gouda

    2. Best cheese knife

    3. Favorite cured meat

    4. Favorite nut to accompany on board - sesame crusted cashews 

    5. Great wine pairing overall - FEL wines Pinot noir

    Comments

    1. No comments. Be the first to comment.