The winter housing market may be strongest since 2006 in Greater Boston. While home sales historically slowdown in winter months and around the holiday season, today’s real estate market is unlike the past. This winter will be nothing like the years before.
Realtor.com chief economist Danielle Hale said that although the market tends to freeze up once the snow falls, she predicts the post-pandemic winter of 2021-2022 will be different. “Sellers can expect to see plenty of buyers,” she said. Even though housing competition started to ease in the fall, home prices continue to hit record highs and inventory continues to be an issue in the Brookline, Newton, and Chestnut Hill areas.
In Newton, inventory of single-family homes is still down almost 34% compared to last year. Brookline inventory is down as well, 28% for single family homes compared to last year while condos are down 34%. The luxury real estate market has seen 40 homes go under agreement in the past 2 months in Brookline and Newton for over $2million. The average list price being $3,624,145. The momentum is not slowing down either as there are more buyers still looking and there are still low interest rates.
If you or someone you know are hoping to buy or sell a home this year, now is the time to start planning! The Robin Allen Group remains committed to delivering their well-recognized concierge level of service to each of their clients. Our knowledge of the local market paired with the portfolio of products available to us through William Raveis, will give you the competitive edge in today’s Real Estate Market.