Massachusetts Real Estate Market Update for March 2024
YOUR Massachusetts Real Estate Market Update for March 2024
Two markets that saw double digit year over year pricing increases… And one market that saw “only” (ha) Single Digit price gains. Then there is the market that broke a 26 month year over year unit sales streak…
If you are looking to hear about the Massachusetts Real Estate Market data for Single Family Homes, Condos and Multi-Family properties… Then you are in the right place.
This market is confusing. It’s red hot. But yet there are signs that inventory is starting to grow. Interest rates aren’t going down, but yet home buyers are flooding the market.
It’s going to be a crazy Spring market. It’s not a matter of if anymore. It’s just a matter of how crazy. Just in the last couple weeks, a house listed at $700,000 that sold for $872,000. A house listed at $800,000 that sold for well over one hundred thousand dollars over asking price. I could cite example after example.
The big takeaway is that the FED CAN’T lower interest rates. If they do, the cost of housing will skyrocket and that will only lead to inflation. I hate to be the crazy one in the room, but the FED in my opinion needs to be increasing rates. There I said it. Don’t shoot the messenger.
Real quick, my name is Jeff Chubb and I am a recovering Investment banker, turned real estate agent that has sold more than a 1,000 homes. If you are planning on buying or selling a home now or in the future, then it would be a pleasure to speak with you.
Let’s start with Single Families
In February of 2024, we saw 1,805 Single Family homes sell for an average sales price of $725 thousand dollars.
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