The Boston2.com Real Estate Blog

Massachusetts Market Update for 10-31-2023

YOUR Massachusetts Real Estate Market Update for the week of October 30th

Is this the inflection point for the Fall inventory that we have been waiting for? What does this mean for the Spring Market? And let’s talk about the American Dream being dead. 

In this video we will go over the Single-Family and condo markets in the state of Massachusetts. And we will also do a quick interest rate update as well as talk about some very relevant current events. 

Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more than a 1,000 homes. If you have any questions about the real estate market, then know I am here to help.

And by the way. If you are an investor who is looking for off market houses, then reach out as I would love to hear what your buy boxes are. We get off market opportunities each and every day and I would love to play a little game of matchmaking. 

Just as a heads up, these off market opportunities are cash or hard money only investments. No conventional financing is allowed. 

Let’s get into it all and jump into the Single-Family market stats.

Another week and another inventory high for the year. But have we hit the peak? There are currently 4,733 single family homes on the market in the state of Massachusetts. This is one more unit than last week. This means inventory is 5.9% higher than it was 28 days ago. 

I feel pretty confident that this week will be the high point for our inventory levels for 2023. If so, then that’s kind of crazy. We never broke the 5,000 unit mark for the entire year. 

And if this is the case. If inventory is done growing, then it we can start to form some educated opinions on what the Spring market in 2024 will look like. Now the next question will be… How severe will the Fall inventory drawdown be? We saw inventory decrease by 33% from this week in 2022 to the last...

More Inventory for Buyers! - Massachusetts Real Estate Market Update

YOUR Massachusetts Real Estate Market Update for the week of October 9th

Who would have thought the condo market would be this strong… Plus, we are almost at an inflection point for inventory levels in the Single Family market. 

In this video we will go over the Single-Family and condo markets in the state of Massachusetts. We will also do an interest rate update and talk about how Student Loan Repayments could help our inflationary woes. 

Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more than a 1,000 homes. If you have any questions about the real estate market, then know I am here to help.

I am working with some sellers at a higher price point. There haven’t been any recent sales in their price range which means that we haven’t lost any buyers to our competition. 

Rather than a price reduction, the sellers and I decided to offer another type of incentive. We did what is called a 2-1 buydown. It was stunning to see how many agents called and asked for an explanation as to what it is. It’s great that they called, but it was a stunning realization as to how many inexperienced agents are out there. Make sure you interview your agent… It’s the difference between you getting a good value on a house or over paying. 

But so you are in the know… There are many folks who are utilizing 2-1 or 3-2-1 buydowns in order to get a lower rate for the time period that it is thought that we would have higher rates in. Their thought is that they would then refinance once rates drop. 

So let’s say today's rate is 8%. A 2-1 buydown means that in year one the interest rate would be 6% and in year 2 it would be 7% with...