Essential insights into the October 2023 real estate market.
The economic landscape is shifting, affecting everything from job creation to interest rates, and it’s having a significant impact on the real estate market in Massachusetts and southern New Hampshire. With interest rates on the rise, tenants are opting to stay in apartments, driving up rents due to limited housing options. Meanwhile, the housing market remains competitive with low inventory, leading to price increases. In Middlesex County, Massachusetts, we’re seeing fewer listings but a nearly 7% increase in prices. Whether you’re a renter or a seller, understanding these October market trends is vital.
Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:
0:00 — Introduction
0:41 — Interest rates
1:35 — Number of listings
2:06 — Pricing changes
2:34 — What do the pricing changes mean for you?
3:11 — What will happen with interest rates?
3:54 — Advice for buyers and sellers
4:33 — The multifamily market
Remember, if you have any questions about the state of the market or real estate in general, please feel free to reach out to me by phone or email. I would be happy to serve as your resource for all of your real estate needs.