“Serious buyers are out and about. We have been pleasantly surprised at how well attended our open houses were in substantial snow. Unit sales, inventory and pending sales have all slowed; a function of the inconvenience of having a home for sale over the holidays. Our agents are busy talking to sellers who want to sell this spring, sharing strategies and advice on how to maximize their sale,“ reports Linda O’Koniewski, CEO of RE/MAX Leading Edge. “Rising interest rates have buyers eager to secure a home before rates and prices go up. I expect a more balanced market to return in late 2017 or early 2018, but the advantage will still be with sellers who price correctly and prepare their home for market.”
December sales of combined condo and single-family homes in Massachusetts decreased -3.8% year-over-year. Inventory remains down -31.8% and the number of days on market is also down -24%. Median sale prices remain up +4.4% while pending sales are down -1.4%.