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Tagged : boston real estate stats

Found 40 blog entries tagged as "boston real estate stats".

think smarter

Summer is here, and we can’t wait to explore the wonderful outdoors throughout Greater Boston! As temperatures heat up, we look to the Boston real estate market to see if it is following the same trend - or possibly starting to cool down? Nick walks us through what is happening in the market and some ways you can enjoy the wonderful summer season in Boston!

There have been some news reports that the market is cooling or adjusting. Is this true?

Mortgage rates are now above 6%, significantly increasing monthly mortgage payments for those buying now vs. 6-18 months ago.  The increase has affected the real estate market, especially over the past month.  Days on the market have increased, and we’ve seen fewer properties receive multiple offers. 

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Think Smarter Nick Warren

This month, Nick advises first-time home buyers and ideas for helping them navigate the competitive landscape of the Boston real estate market. Read on to learn how to make an offer competitive and one crucial piece of advice that can help you buy your first home.

What makes the Boston real estate market unique for first-time buyers?

First-time homebuyers in Boston are a bit different. Given that our average sold price in Boston is now over $1m, first-time buyers typically have to wait a bit longer until they can afford to buy a property here vs. other parts of the country.  

Even if they are waiting until they are in their late 20s or 30s, they still may not have enough money for a down payment, so we often see first-time buyers get help

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Think Smarter Nick Warren

Nick and the rest of the office recently got a special behind-the-scenes tour of the brand new Raffles Residences. This month, he talks about the exciting aspects of these highly anticipated homes and how they will blend into the Boston landscape.

What can you tell us about the new Raffles Residences?

Like many Bostonians, I had never heard of the Raffles hotel brand before. Walking into the sales center of the Raffles Residences, I sensed a different level of quality and finishes in these homes compared to what we see in many of the new luxury towers in Boston. 

The attention to detail was noticeable immediately, even in the small details like the knockers on the front door. 

This group of developers definitely wasn’t interested in

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Think Smarter Nick Warren

As we enter the spring market, which is historically the busiest in Boston real estate, Nick gives his insight on what you can expect during the season. He offers tips for sellers looking to make a move and those looking for their first home in the Boston area.

What do you expect to see in the busy spring market over the next few months?

One of the factors likely contributing to the increased demand we have already seen in 2022 is the additional six rate hikes the Fed will likely make before the end of the year.  Many buyers are racing against the clock to lock in mortgage rates before they creep higher and reduce their buying power.  

I believe that this trend will continue to get stronger as we get into the spring market resulting in

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Think Smarter Nick Warren

As spring approaches, many people start thinking about listing their homes for sale in the Boston area. Nick discusses what sellers can expect this year in suburban and city markets. He also gives tips for best maximizing your sale price when you sell.

What can sellers expect in the suburban markets around Boston?

2022 seems to be following in 2021’s footsteps regarding the suburban market. Our agents report even more activity at open houses and multiple offer scenarios. Buyers are becoming more aggressive with dropping contingencies to compete. I believe that this is partially due to buyers' rush to get something under agreement before rates rise.  

I expect this trend to continue for a few months until the rates rise to a point where some

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With Mortgage Rates Climbing, Now’s the Time To Act | MyKCM

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home in the Boston area, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality. Here’s a look at the projections from Freddie Mac for this year:

  • Q1 2022: 3.4%
  • Q2 2022: 3.5%
  • Q3 2022: 3.6%
  • Q4 2022: 3.7%

As the numbers show, this jump in rates is in line with the expectations from Freddie Mac. And what they also indicate is that mortgage rates are projected to continue climbing throughout the

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Think Smarter Nick Warren

As we enter into a new year, Nick chats about some exciting new projects around Boston. He also gives tips for buyers and renters looking to make a move in the new year.

What are some new developments that you are excited about this year?

I’m excited to see the St. Regis Residences in the Seaport be completed.  Their services and finishes are extraordinary and will set a new bar for Boston luxury real estate.  Our agents have pre-construction access for anyone interested in potentially purchasing a condo in this project.  

Another new luxury development slated for completion in 2022 is The Parker.   Just steps from the Boston Common, this development has some of the best deals in new construction anywhere in the city.  I also think there is

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5 Tips for Making Your Best Offer on a Home | MyKCM

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home in the Boston area, remember these five easy tips to help you rise above the competition.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect

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Think Smarter Nick Warren

October is historically one of the best times for buyers to make a real estate purchase. Is it any different in 2021? Nick talks about the current stats of the market, looking at inventory, prices, and what the market is currently like for buyers in the Boston area.

October is typically one of the best months for home buyers. Is that true this year as well?

The fall market is generally not quite as strong as the spring market, so the competition should be less as a buyer.  However, this fall’s data shows that a lot of activity is still happening, so I expect to see scenarios with multiple offers, etc., still.

Does inventory remain scarce throughout Greater Boston?

Yes, compared to this time last year, inventory is down significantly. 

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Think Smarter Nick Warren

The temperatures are cooling, but the Boston real estate market is not! This month, Nick talks about how buyers can best navigate the market if they want to purchase before the end of 2021. He also gives some strategies sellers can utilize to get top dollar during this competitive time.

For buyers looking to make a move before the end of the year, what pieces of advice do you have for them?

For those looking to purchase before the end of the year, whether for personal or financial reasons, one of the biggest things you should plan for is the amount of time it takes to close in real estate. 

Typically, you can expect the actual closing to happen somewhere between 30 and 60 days after putting a property under agreement.  This time frame can be

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