Market Info

North of Boston November 2019 Real Estate Market Update

“For the first time, median home prices cracked $400,000 in Massachusetts and are now at $409,000, which doesn’t make sense to anyone looking for homes in Greater Boston,” reports Linda O’Koniewski, CEO, Leading Edge. “The average property in the Berkshires is $217,000, while purchasing a home in Middlesex County averages $570,000, and Suffolk county is clocking in at an additional $18,000. Swanky Nantucket is $1,520,000, and Martha’s Vineyard is just over half that at $831,000. We see the same disparity in prices from town to town and neighborhood to neighborhood within and beyond Route 128.

“While so many home buyers put their house hunt on hold for the holidays, this is always the best time of the year to buy. Look for properties that were not snatched up when they launched on the market and have been languishing. They are likely over-priced and those sellers may be more realistic when faced with a fair offer,” advises O’Koniewski.

October sales of single-family homes in the Leading Edge service area decreased -14.7% year-over-year. Inventory decreased -23.1%. The number of days on market over the last 12 months increased +9.1% while median sale prices remain up +1.6% at $625,000.

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!

Andover, North Andover, North Reading, Reading, Wakefield, Stoneham

 

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North of Boston Real Estate Market Update for October 2019

 

 

“This is a mixed housing market where it can be a buyer AND seller’s market in the same neighborhood,” reports Linda O’Koniewski, CEO, Leading Edge. “Affordable properties are moving swiftly if priced right and high-end and luxury homes are starting to sit on the market. One thing is clear, this generation of buyer has little appetite for fixing up homes.  Homes that are updated, on trend and well-staged at the right price are still flying off the shelf. Properties with older kitchens, baths, wallpaper, heavy drapes, furniture and carpet are more challenging to sell.  HGTV and Pinterest has influenced today’s buyers.”

 

Watch the video below to learn more!

September 2019 Housing Market Update

 

“Lower interest rates have fueled the stabilizing housing market,” reports Linda

O’Koniewski, CEO of Leading Edge. “Rates have dropped so much that mortgage

lenders are refinancing people who bought as recently as March. We expect the

interest rate boost to keep the market strong through fall.”

 

 

If you're looking to buy or sell in the suburbs North of Boston Contact us!

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A Recession Does Not Equal a Housing Crisis

(Photo by Tom Rumble on Unsplash)

Recently, there's been a lot of news surrounding an impending recession. However, the same experts predicting an economic slowdown also believe it will not be caused by the housing market. If you're thinking of buying or selling a home, there's no need to panic- let's get together to address your concerns and talk about what's really happening.  

Contact us to chat more!

Watch the video below for more insights.

Sources used for data:

 

 


 

 

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August 2019 Real Estate Market Update

 

“The balance of power is shifting and sellers need to change their expectations of

what their home is worth,” reports Linda O’Koniewski, CEO of Leading Edge. “Say

good-bye to double digit appreciation. As we move toward a normal market, values

are shifting. An experienced real estate professional can provide data to ensure

homes sell at an optimal price for their clients.”

 

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Mid-Year Housing Market Update: Three Things to Know Today

Mid-Year Housing Market Update: Three Things to Know Today | MyKCM
 

Shifting trends and industry-leading research are pointing toward some valuable projections about the status of the housing market for the rest of the year.

If you’re thinking of buying or selling, or if you just want to know what experts are saying is on the horizon, here are the top three things to put on your radar as we head into the coming months:

  1. Home prices are appreciating at a more normal rate: Home prices have been appreciating for about ten years now. Experts at the Home Price Expectation Survey, Mortgage Bankers Association, Freddie Mac, and Fannie Mae are forecasting continued growth throughout the next year, although it should be leveling-off to normal appreciation (3.6%), as we move into 2020.
  2. Interest rates are low: Over the past 30 years, the average mortgage rate in the United States has been 8.27%, and rates even peaked as high as 18% in the 1980s. Today, at 3.81%, the rate is considerably lower than the historical 30-year average. Although experts predict it may climb into the low 4% range in the near future, that’s still remarkably lower than our running average, suggesting a great time to get more for your money over the life of your loan.
  3. An impending recession does not mean there will be a housing crash: Although expert research studies such as those found in the Duke Survey of American CFOs and the National Association of Business Economics, are pointing toward a recession beginning within the next 18 months, a potential recession isn’t expected to be driven by the housing industry. That means we likely won’t experience a devastating housing crash like the country felt in 2008. Expert financial analyst Morgan Housel tweeted:

“An interesting thing is the widespread assumption that the next recession will be as bad as 2008. Natural to think that way, but, statistically, highly unlikely. Could be over before you realized it began.”

In fact, during 3 of the 5 last U.S. recessions, housing prices actually appreciated:Mid-Year Housing Market Update: Three Things to Know Today | MyKCM

Bottom Line

With prices appreciating and low interest rates available, it’s a perfect time to buy or sell a home. Let’s get together to discuss how you can take the next step in the exciting journey of homeownership.  Contact us today!

July 2019 North of Boston Real Estate Market Update

"An agent recently described the current market as, squirrley," reports Linda O'Koniewski, CEO of Leading Edge. "As the market has softened, buyers are more finicky and more selective, and right now many sellers have unrealistic expectations of their home's worth. The bottom line is, homes must be priced right."

 

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June 2019 North of Boston Real Estate Market Update

“Our market in Eastern Massachusetts remains extremely fickle,” reports Linda O’Koniewski, CEO of Leading Edge. “Homes that are not priced right, not “show ready” or are not in ideal locations are sitting and days on market are growing while others are still flying off the shelf.  Heed the advice of an experienced agent and sellers will realize a faster and more efficient sale.”

If you have any questions about our local market or if you are thinking about buying or selling a home in the North of Boston suburbs, contact the Ternullo Real Estate Team today!

 

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May 2019 North of Boston Real Estate Market Update

“We are experiencing a fickle spring market,” reports Linda O’Koniewski, CEO of Leading Edge.  “Agents are reporting varying market conditions.  Open houses are bursting with attendance over here, and only two parties show up over there.  This mid-priced house, in a hot market priced well, goes without a bid on the call to offer date, this other mid-priced property, in a hot market priced well, is overwhelmed with competing buyers.  Change is in the air.”

If you have any questions about our local market or if you are thinking about buying or selling a home in the North of Boston suburbs, contact the Ternullo Real Estate Team today!

 

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April 2019 North of Boston Real Estate Market Update

 

“The unexpected interest rate drop is adding fuel to a checkered real estate market that went into high gear in March,” reports Linda O’Koniewski, CEO of Leading Edge. “Neighborhoods and towns are both hot and cold depending on price point. Consult a savvy real estate professional who has a pulse on this hyper-local market if you plan to buy or sell.”

 

  

 

If you have any questions about our local market or if you are thinking about buying or selling a home in the North of Boston suburbs, contact the Ternullo Real Estate Team today!

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