I hope you've had the chance to savor these last days of summer in New England. As the temperatures start to dip, our real estate market is gearing up for a busy season. With the fall comes a surge of new listings, particularly right after Labor Day. If you're in the market to buy, now is the time to stay alert for fresh opportunities.

Important Industry Changes

You may have heard about some significant updates to real estate practices that took effect on August 17th. These changes impact how brokers and agents operate, with key updates including:

• Buyer agents must now have a written agreement with buyers clearly outlining compensation details before any property tours occur.

• Offers of compensation from sellers or their agents to buyer agents can no longer be made through the MLS.

We've detailed these changes and their potential impact on you as a buyer or seller in our latest blog post, which you can read here.

Market Insights

The Boston condo market is showing an increase in available listings compared to last year (974 vs. 842), along with a noticeable rise in the month's supply of inventory (3.38 vs. 2.69). While this doesn't signal a shift to a buyer's market just yet, it does mean buyers have more options to consider. For sellers, this change emphasizes the importance of competitive pricing and presentation to stand out in a more crowded market.

It is key to stay informed and prepared as we navigate these evolving market conditions and industry changes. Whether buying, selling, or simply keeping an eye on the market, my team and I are here to guide you through every step. We're committed to helping you make the most of the opportunities this season brings. If you have any questions or need personalized advice, don't hesitate to reach out.

Best,

Nick Warren
Broker/Owner Berkshire Hathaway HomeServices Warren Residential