A Note from Amy
Welcome to the August edition of the Amy Balewicz Homes market newsletter!
We believe the best thing we can do for our clients and the communities we serve is educate them on the local market. This is why we believe it’s important to send our market update newsletter each month!
There have been some markets in the nation that have experienced average price declines compared to 2022. Here in Massachusetts, although the real estate market has experienced some changes, as a whole we’ve continued to see prices climb for single-family homes. It appears that buyers are now over the rate-adjustment phase and are entering the market again.
A key factor impacting the market is the limited supply of homes available for sale, with new listings in Massachusetts down 23% from last year. This scarcity has led to a highly competitive environment for both buyers and sellers.
There has been a shift in the increased days until offer, now at 25 days, which represents a 47% increase from 2022. This indicates that sellers need to be strategic in pricing their properties to attract potential buyers and avoid prolonged time on the market.
For buyers, while competition remains intense, there are opportunities to find reasonably priced homes due to the slower pace of price appreciation. Negotiating favorable terms may be possible, especially for homes initially listed at higher prices.
Below are the market statistics YTD through July for several of the towns we serve. If you have interest in receiving market stats for any of the other metro-west communities please contact us!
As always, Amy Balewicz Homes wants to be your first resource for all things real estate! If you have any questions about the local real estate market please reach out!
Engaging with our community and fostering new connections is extremely important to us and we would love to be a local real estate resource for you. We are here to help and serve!
TEAM NEWS!!
