Real Estate Market Reports- Single Family Homes

Photo Credit Alex Pinck

Breaking down the news reports on the health of the real estate market is really important. Here are a few thoughts to consider when reading the news.

1. National news is not a good gauge of what is happening here in New England
2. Is the data breaking it down between Single Family Homes, Condos or Multi Family or lumping it all into one bucket?
3. Median homes sales data is a better measure than the average
4. Comparing sales data and trends to the pandemic years is misleading
5. Cambridge MA for example has fewer Single Family Homes on the market than perhaps other cities and towns resulting in kinda skewed data. Search Current Listings
6. Ask a realtor what they are seeing and experiencing on the street right now…get a current overview from the market from someone who sees it every dat and who has the data to back it up.  View Current Sales Data

My experience YTD on attending and submitting offers on Single Family Homes

Open house attendance has been strong, properties going under agreement within the first week, with more than just a few offers resulting in a bidding war and being sold for over asking. Sure there are fewer buyers in the market due to interest rate hikes but buyers are still out looking.

Fewer houses are on the market creating a supply/demand environment which we all expect to continue thus the price declines one hoped for may not materialize.

If you would like to see data for your city or town, email me or give me a call.

Best,

Alex

Think PINCK when buying or selling.