Here is our December 2018 market snapshot for some local towns. Active single family inventory has dropped in all of these towns significantly since the active inventory from the prior month.
Interest rates are currently at their lowest levels in approximately 8 months coming in at an average of 4.51% for a 30 yr fixed mortgage (according to the Wall Street Journal)
If rates stay at levels comparable to the spring of 2018, buyer activity and demand should remain strong. However, lack of inventory is playing a role in the lower amount of homes being sold.
As always with our area, outside of Boston, the weather will also play into the buyer AND listing activity the rest of the winter. If the snow stays away, I think we can expect to see an early spring market this year. Either way, as with every year, the buyers looking now are serious and ready to take advantage of the current interest rates, but may be having trouble finding a home that fits their needs and wants.
Stay tuned for our January report to see where the market will start out in 2019!
When entering the real estate market, it’s good to know the numbers. If you don’t see your town and would like a monthly breakdown delivered to you every month, like below, for your town, please message us and we’ll get one right out to you.