YOUR Massachusetts Real Estate Market Update for the week of January 29th
Well that sucks… If you are a buyer that is. Single Family inventory just took a nosedive this week with a SURGE of properties going under agreements. And then there is the condo market which just feels like it is chugging along at last year’s pace.
In this video we will go over the Single-Family and condo markets in the state of Massachusetts. And we will also do a quick interest rate update… And we will also talk about some relevant current events.
Last week I was talking about how the market felt like stronger demand was here, but it just had not played out through the stats… Yet… Well it looked like the market got the message.
At this point I feel like I am begging… But if you are a potential buyer this Spring, PLEASE start your search a little earlier. It could save you tens of thousands of dollars as this market begins to heat up and kicks into crazy town gear.
Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more than a 1,000 homes. If you have any questions about the real estate market, then know I am here to help.
Also, as a quick heads up, I am looking to buy houses. Let me know if there are any houses that you are aware of that need a lot of Tender Love and Care. Friend. Family member. A random house that you drove by that was in shambles… The uglier, then the better! If you know of one, then reach out or visit CashOfferMA.com.
Let’s get into it all and jump into the Single-Family market stats.
And… We’re down. Inventory is down to 2,822 Single Family homes on the market in the state of Massachusetts. It’s down 178 units from last week which is now 2.3% less than the amount of homes for buyers to look at in just a matter of 28 days.
Last week I was worried that the Single Family inventory levels were going to make me look bad and shoot beyond the 3,000 unit range… The data makes a lot more sense this week. Inventory levels are going to continue to suck for home buyers. They are going to suck this winter. They are going to suck this Spring and they are going to suck this Summer. What about the Fall market you ask… That’s a little too far out…
There is a better view of the nosedive! Last week is what we traditionally see this time of the year. We should see inventory levels pull back a little more then level off until about the end of February.
This is when we start to see more inventory come on the market… But also start to see a LOT more buyer demand.
We have 247 fewer Single Family homes on the market today then we did today back in 2023 and 884 more Single Family homes on the market then the inventory levels in 2022.