“Properties cost more than they did a year ago throughout Greater Boston and Southern NH,” confirms Linda O’Koniewski, CEO of Leading Edge.
“However, we did have some real estate lottery winners in 2022. Those who listed and put their homes under agreement in the first quarter and through April last year, sold at peak prices. Few industry professionals acknowledge that prices have dropped since interest rates spiked. Prices are still significantly higher than this time last year. There was a four-month period at the end of the long 10-year ride of cheap money where home prices hit an historic high,” reports O’Koniewski.
“Sellers are still sitting on a boatload of equity. Many homeowners want to move, but are feeling stuck. Reach out to a Leading Edge agent to discuss your specific circumstances and we will work together to create a plan tailored to your needs. Inventory is low, and lots of buyers who missed out last year still want a house and have made their New Year’s resolution to secure a home this year. They have come to the realization that higher interest rates are the new normal.”