Katie McBride | Hopkinton Real Estate, Holliston Real Estate, Ashland Real Estate


STMThe most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed. According to NAR’s Chief Economist, Lawrence Yun,
Pending sales bounded last month as enough buyers fended off rising mortgage rates and alarmingly low inventory levels to sign a contract.

So, what’s the problem?

Buyers are searching for existing homes, but supply is not keeping up with their demand! Yun went on to explain,
The main storyline in the early months of 2017 will be if supply can meaningfully increase to keep price growth at a moderate enough level for households to absorb higher borrowing cost. Sales will struggle to build on last year’s strong pace if inventory conditions don’t improve.” (emphasis added)

Bottom Line

Buyers are out in force right now! If you are considering selling your home this year, the early months of 2017 will be your best option. Let’s get together to discuss how you can capitalize on current market conditions.

Misc-5In the community of Hopkinton, MA in the past month there have been 30 homes sold.  The average sale price of these homes was $686,018 and the homes were on the market an average of 70 days.  There have been 14 homes listed for sale during the past month Hopkinton, MA.
We are here to serve all your real estate needs in the surrounding communities.  We welcome your business, and we promise to take exceptional care of you or any of your referrals.

SoldHome

In the community of Ashland, MA in the past month there have been 15 homes sold. The average sale price of these homes was $496,727 and the homes were on the market an average of 29 days. There have been 9 homes listed for sale during the past month Ashland, MA.

We are here to serve all your real estate needs in the surrounding communities. We welcome your business, and we promise to take exceptional care of you or any of your referrals.


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