October 2021 Housing Report
“Here’s an interesting, yet counterintuitive, fact,” reports Linda O’Koniewski, CEO, Leading Edge. “A recent study by First American Title found that homes today are more affordable than they were 15 years ago. Why? In 2006, interest rates were at 6%. At today's interest rates, around 3%, homes are actually more affordable for today’s buyers. So even though Mom and Dad can’t believe how much money their kids are paying for property, purchasing a home remains within reach to achieve the American dream.”
September sales of single-family homes in the Leading Edge service area decreased -24.6% year-over-year. Inventory decreased -33.5%. The number of days on market over the last 12 months decreased -30.6% while median sale prices remain up +13.1% at $745,000.
The following are location-specific overviews of market changes year-over-year, for a sampling of neighborhoods in the Greater Boston Area. Don't see your town listed? Contact me for a custom report!