“While the overall housing market in Massachusetts has slowed, there are certain pockets that remain highly competitive and almost immune from the natural ups and downs of the market,” reports Linda O’Koniewski, CEO of RE/MAX Leading Edge. “Greater Boston’s luxury markets like Belmont, Cambridge, Lexington, Newton and Winchester are stronger than ever and buyers are still experiencing heavy competition and high prices to entry. However, markets like Lynnfield, Reading, and Wakefield are experiencing longer days on market and more competitive pricing.”
October, sales of combined condo and single-family homes in Massachusetts decreased -13.4% year-over-year. Inventory remains down -29.4% year-over-year, days on market are also down -21.3%. Median sale prices remain up +5.7% and pending sales are also up +7.4%.