Paralleling the stock market dip of Q4 and the unexpected January bounce, agents report they are busier than they’ve been since last spring,” reports Leading Edge CEO, Linda O’Koniewski. ”The Greater Boston real estate boom…the one where sellers are in charge; prices keep going through the roof; multiple, over-asking offers are the norm; and homes sell in the first week…is nearing an end. And the signs are everywhere…demonstrated by rising inventory. Homebuyers at some price points and in some neighborhoods now have more negotiation power than they’ve had in 6 years. Trade-up buyers can sell with more confidence that they’ll find something to buy. That concern greatly attributed to the squeeze on available homes over the last several years. Nobody wanted to risk being homeless.”
January sales of single-family homes in the Leading Edge service area decreased -19.6% year-over-year. Inventory is up +6.6%. The number of days on market over the last 12 months is down -8.3% while median sale prices remain up +6.1% at $620,500
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