Summer 2022 Giveaway & Is the Real Estate Market Really Slowing Down?
A Note from Amy
Happy (Almost) Summer From Amy Balewicz Homes!
The Federal Reserve has raised the interest rate again and we are keeping a close eye on how this will affect the housing market. While home prices have increased year over year in nearly all of the towns we serve and days on market have decreased, we’re starting to see home sale price growth slow down slightly. This appears to be a direct result of the recent rise in interest rates in response to the Fed’s efforts to slow down inflation as well as balance out the real estate market.
Despite the increase in rates and many buyers deciding to put off their home search in the short term, there is still a great deal of opportunity for both discerning buyers and sellers to take advantage of historically high sale prices and interest rates that are still historically low.
Year to date in Bolton, 18 homes have sold year to date compared to 31 last year and we’ve seen a 16.5% increase in the average sale price up to $861,129 from $739,227 in this same time period in 2021.
In Stow, 27 homes have sold year to date compared to 36 last year and we’ve seen an 18.5% increase in the average sale price up to $874,141 compared to $737,708 in 2021.
In Lancaster inventory has been fairly flat with 24 homes sold year to date compared to 23 last year and a more modest increase of 2% in the average sale price up to $456,350 compared to $447,752 in 2021.
You can see more in-depth stats on our charts below.
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
Who doesn't LOVE giveaways? We are so grateful for our clients, trusted service providers, and community and we want to give back! We are giving away four tickets to the Worcester Red Sox (WooSox) game on Friday, July 22nd at 6:45pm at Polar Park. Thank you for your continued support and referrals.
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