A Note from Amy
Happy February From Amy Balewicz Homes!
The metro-west real estate market through January 2023 has been strong, with low inventory and high demand leading to competitive market conditions to start the year.
Despite the recent shift in the real estate market, we're experiencing high levels of activity from prospective home buyers who are only being slowed down by the continued lack in inventory. Multiple offer situations remain on homes that are in good condition and properly priced.
This trend is expected to continue as we move further into the year, with tight supply and strong buyer demand, and we’ll see a continued increase in home appreciation, albeit at a slower rate compared to the past few years. We do expect inventory to rise over the next few months as we enter the spring market making NOW the ideal time for sellers to list their home.
There is also still opportunity for prospective home buyers to take advantage of the recent decrease in interest rates and slower appreciation.
Below we explore the year-over-year comparison for January in a few of the towns that we serve: Bolton, Stow, Lancaster, and Hudson.
Based on the small sample size; the days on market & average sale price can be misleading. However, what is worth taking note of is the low number of sales that have happened so far in 2023!
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!
~Amy
