December 2016 Greater Boston Housing Market
Our local Realtor association collects data and monthly releases reports of the health of the market. How does this information pertain to Concord one might ask? It is very telling for our single family market under $1,200,000 and in line with the market statistics. The market under this price point in Concord and across the Greater Boston region is experiencing a shortage of inventory (10% down year over year) and an increase of value. This market is being driven by buyers who need to buy and who don’t want to miss out on historically low rates.
The luxury market is not experiencing the same results as this market is over saturated with inventory and there is not a need pressure to buy. This market segment is looking for safety and trying to decide if housing is a better place than equities. At the time of writing this piece the Dow as just crossed 20,000 and many investors are staying bullish in the market and that is definitely softening our luxury market. However, if you are in the luxury space and want to sell there is still opportunity and strength, but you must be strategic with your positioning in this market segment.
Click the link below for access to the data.