Buyer Demand Up 74%? Massachusetts Real Estate Market Update for 1/23/2023
Channel: Living in Boston & the Burbs by Jeffrey Chubb
Date: 25/01/2023

Has the Spring market come early? Buyer demand is up 74% from the first week of January! 

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Massachusetts Real Estate Market Update done weekly. This is for data consisting the week ending 1.23.2023.
Recap of Video:
✅ Single Family 🏠 & Condo data for the week of 1/23/2023!
✅ We are talking Interest rates (with some current event talk), tracking distressed (foreclosures) properties for sale in Massachusetts, and viewing the Luxury Home of the week!

➡️ Single Family 🏡 Market Data Week over Week ⬅️
✅ Single Family inventory of 3,232 homes available to buyers with 587 🏠 homes coming on the market this week.
✅ 719 Single Family homes went under agreement with 474 Single Families 💰 selling for an average price of $675k and a Median Price of $540k.
✅ Months of Inventory 🔼 stayed flat at 1.13 months. 

➡️ Condo Market Data Week over Week ⬅️
✅ Condo inventory in Massachusetts on 📅 1/23 was 1,790 condos available to buyers with 353 newly listed condos coming on the market last week. 
✅ 325 Condos went under agreement with 230 Condos 💰 selling for an average price of $735k and a Median Price of $500k.
✅ Months of Inventory 📈 increased to 1.62 months this week compared to 1.60 months last week.

➡️ Mortgage Market News & Other Headlines ⬅️
✅ Interest rates went up for the week... VERY slow progression with the market frozen waiting for the next piece of economic data. 
✅ Article 1: https://www.zerohedge.com/markets/stellar-2y-auction-sees-bond-market-mocking-feds-higher-longer
✅ Article 2: https://www.zerohedge.com/news/2023-01-24/i-sincerely-hope-youre-not-falling

➡️ Let's talk foreclosures in Massachusetts ⬅️
✅ Currently 106 Foreclosures for Sale with 20 Short Sales on the market.
✅ Distressed sales consist of 2.21% of the inventory on the market.

➡️ Luxury Home Spotlight ⬅️
✅ 17 Bridle Path, Weston, MA - View home at: https://www.boston2.com/idx/17-bridle-path-weston-ma-02493/12745888_spid/
✅ 5 Bedroom, 7 Full and 2 Half Bath home that is immaculate. Everything is stunning in this home. Listed for $11.5m. 
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Video Chapters
00:00 - Introduction
0:44 - Single Family Data
3:44 - Condo Market Data
4:48 - Mortgage Market Recap
5:59 - Massachusetts Distressed Data (Foreclosures & Short Sales)
6:33 - Luxury Property Review at 17 Bridle Path, Weston, MA
7:41 - Conclusion
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👇Connect with me 
Jeffrey Chubb | Chubb Homes Team | 617-480-2600 | Jeff@Boston2.com | https://www.Boston2.com | Brokered by eXp Realty 

Wondering what the Massachusetts Real Estate Market Conditions are in 2022? Then this is the place to visit each week. Jeffrey will give an update on Massachusetts Real Estate for Massachusetts Single Family and Massachusetts Condo homes. Whether you are looking for a Boston Market Update or an entire Massachusetts Market Update, then this data will be helpful! He will provide the weekly market stats as well as some weekly market color as to what is going on in the Massachusetts Housing Market and whether Massachusetts Real Estate appreciating or Massachusetts Real Estate depreciating. Whether it is Boston Real Estate or anywhere else in the state, the market reports matter!

Disclaimer: These are the opinions of Jeffrey Chubb personally and not eXp Realty. You should do your own research to come up with your own conclusions when it comes to making the investment decision of buying or selling real estate.