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Housing Market in MA – Qtr 3 Review

Q3 2022 Market UpdateThe Massachusetts Association of Realtors (MAR) has published the latest housing market report for  the towns and cities in our state. Our summary covers Acton, Bedford, Carlisle, Concord, Lexington, Lincoln, Westford and Winchester, along with 54 other towns and cities where we have represented buyers and sellers. This report includes property sales data from the year so far and compares that to the previous year, giving a good indicator how the market has performed in the first three quarters of 2022. Whether you are buying or selling, these reports can give you a useful insight into trends in each town. You can look at days on market to see how fast homes are moving, check how many homes sold compared to the previous year to understand the demand, and see how the list prices compared to sale prices to comprehend how competitive the market is. However, for a full market analysis you should talk to an experienced realtor. They'll be able to give you a more detailed evaluation of your home, taking into account specific property and neighborhood details and including information about recent comparable sales, to give you the true picture.

We have seen a definite change in the marketplace in the past quarter as economic changes begin to bite. Days on market are increasing and price growth is slowing compares to the first half of the year. Having said that, our towns seem to be faring better than others as factors such as good schools, commuting links and strong communities all continue to create demand. If you are curious to know what your home is worth in today’s market, contact one of our experienced local agents. They can walk you through our selling process including a robust marketing plan to get the best value for your home.

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