Caution, following is a lot of data points and value-add in the real estate market for your reading pleasure:
In MA, we are still in a seller's market, but that market is still changing in favor of buyers. The days on market metric still shows buyer demand, but key indicators continue cooling: absorption rates are slowing (the rate or speed at which homes sell), days on market are climbing, and year-over-year inventory has increased. Home prices remain stable, still appreciating, but at a more moderate pace. And, most homes are now selling closer to the asking price. Pending homes sales are up- housing data performs better with lower mortgage rates, which adds another layer of metrics as mortgage rates trend down and favor buyers.
I closely watch when homes are listed and then sit on the market, and whether or not they are ultimately cancelled/taken off the market to possibly re-list in the spring. Alternatively, sometimes properties sit on the market overpriced or with several price improvements. Both are opportunities for buyers. As a seller, after evaluating your selling goals, your superpower is to price and list your home timely and accurately. That takes skill and a real estate professional with a keen ability to watch and read the real estate market data and metrics. Look no further! Join Me. Be Moved.
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