CAPE COD IS A GHOST TOWN?!? | Massachusetts Real Estate Market Update 6.19.2023
Channel: Living in Boston & the Burbs by Jeffrey Chubb
Date: 2023-06-22

CAPE COD IS A GHOST TOWN and here is why! 🤔 | Massachusetts Real Estate Market Update

This video is about the Massachusetts Real Estate Market. These videos are produced every week to provide market color about the local real estate. 

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Massachusetts Real Estate Market Update. This is for data consisting the week ending 6.19.2023.
Recap of Video:
✅ Single Family 🏠 & Condo data for the week of 6/19/2023!
✅ We are talking Interest rates and the deal behind Cape Cod being a ghost town and what that means for pricing... Plus the Luxury Home of the week!

➡️ Single Family 🏡 Market Data Week over Week ⬅️
✅ Single Family inventory of 3,967 homes available to buyers with 1,115 🏠 homes coming on the market this week.
✅ 1,054  Single Family homes went under agreement with 701 Single Families 💰 selling for an average price of $829k and a Median Price of $660k.

➡️ Condo Market Data Week over Week ⬅️
✅ Condo inventory in Massachusetts on 📅 6/19 was 2,328 condos available to buyers with 467 newly listed condos coming on the market last week. 
✅ 447 Condos went under agreement with 335 Condos 💰 selling for an average price of $664k and a Median Price of $555k.

➡️ Mortgage Market News & Other Headlines ⬅️
✅ Interest rates went up but stayed in the range (then went down on Tuesday after we shot the video!)! 
✅ Consumer Price Index data... the FED announced and nothing. What this means for this Summer and Fall for interest rates. 
✅ Rentals on the Cape are fewer and further in between. How this will effect sales prices in the future. 

➡️ Luxury Home Spotlight ⬅️
✅ 56 Beacon Street, Boston: Beacon Hill : https://www.boston2.com/idx/56-beacon-street-boston-ma-02108/12943229_spid/
✅ 5 Bedrooms, 5 Full and 3 half Baths house that is 10,858 square feet IN BOSTON! Listed for $31.000m. 
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Video Chapters
00:00 - Introduction
1:40 - Single Family Data
4:49 - Condo Market Data
6:23 - Interest Rates, and disruptive offers to the market
7:31 - Cape cod is a GHOST TOWN
9:28 - Luxury Home of the week
10:57 - Conclusion
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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.