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February 2019 North of Boston Market Report

"Hi Everyone!  We are talking today about the North of Boston February Real Estate Report. Specifically, we are looking at Middlesex and Essex counties and how they preformed in January this year compared to last year. Last month, more homes were listed for sale. Approximately 5% more than last year. Those homes are staying on a bit longer by approximately 13%.  We have also seen the number of sales drop by approximately 7%.  The bad news for buyers is that prices still climbed up by about 6%. Now what does all this mean? For Sellers the good news is prices are still appreciating. However, a word of caution, pricing and preparation is crucial. The market is less forgiving today and homes that don't get it right the first time risk languishing on the market and potentially getting rejected by buyers. For buyers the good news is that there is now some relief. Interest rates hit a 10 month low and there is finally some options to choose from and less competition at every open house. Bear in mind, it still is overall mostly a Sellers Market." - John Ternullo

 

If you are considering a move in the suburbs North of Boston and would like to learn how this information may impact your purchase, please contact us. If you currently own a home and would like more information on the value of your home, please let us know and we can provide a detailed estimated report. If you would like to know how much you could sell your home for in the 2019 spring market, we are happy to schedule an in-person visit and provide a detailed report. 

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