December 2023 Market Snapshot

Dated: December 4 2023

Views: 295

“In a market that continues to defy expectations, we've witnessed smartly priced, move-in ready properties being snapped up with remarkable speed. Meanwhile, the high-end condo and luxury markets are finding their footing, signaling a welcome stabilization,” reports Linda O’Koniewski, CEO of Leading Edge. 

This month's headline is a significant one: single-family home prices in Massachusetts have soared to a record median of $600,000. This trend echoes across counties, with Middlesex leading at $805,000, followed closely by Suffolk at $739,000, Norfolk at $725,000, and Essex at $680,000. The islands, ever the bastion of exclusivity, stand apart with Martha's Vineyard and Nantucket boasting median prices of $1,650,000 and $1,900,000, respectively.

What's particularly remarkable is the sustained demand driving these prices upward, undeterred by interest rates flirting with the 8% mark. At the time of this report, some 30-year fixed rates are even hovering around 6.99%.

In this dynamic landscape, Leading Edge remains committed to guiding our clients with honor and expertise. We navigate today’s market with a steadfast focus on what’s best for those we serve. Here's to finding your place in this ever-evolving market with confidence and clarity in 2024. 

Latest Blog Posts

February 2024

“In an unprecedented market landscape, housing inventory has plummeted to record lows, re-igniting fierce competition among buyers. This surge in demand, fueled by an acceptance of mid-6's

Read More

January 2024 Market Snapshot

The recent dip in interest rates sparked a notable increase in sales towards the end of the last quarter," observes Linda O'Koniewski, CEO of Leading Edge. "Yet, with Jerome Powell's latest

Read More

December 2023 Market Snapshot

“In a market that continues to defy expectations, we've witnessed smartly priced, move-in ready properties being snapped up with remarkable speed. Meanwhile, the high-end condo and luxury

Read More

November 2023 Market Snapshot

“The housing market is finding its equilibrium, mirroring a decline in absorption rates,” reports Linda O’Koniewski, CEO, Leading Edge.Amidst this stability, many homeowners are

Read More