Market Update

 What is happening in the marketplace? Well, when we're asked that, we like to look at the numbers to help determine what's really going on, and basically here we are at the beginning of 2023, armed with information from what happened in 2021 and in 2022 to help us project forward into what's going to happen in 2023.

This is what I can tell you that's going on all over the board. We're still faced with very low inventory.  Prices that are coming up, buyers that are motivated, but sellers that are not. What does that mean to you if you're a seller? Basically, we have low inventory. It's still very much a seller's market out there based on the amount of inventory that we have on the market today, which is holding prices up pretty darn high.

Secondly, if you're a buyer, although it's not as aggressive as it was in 2021 and 22, we're looking at a little bit of a softer market for you making this process a lot easier for both parties. So that's what's happening on the marketplace. Really what we do is we plug in all these numbers and come up with fancy absorption rates and blah, blah, blah, blah, blah.

But really what we do is determine the strength of the market. Buy that amount of supply to determine whether we're dealing with a seller's market or a buyer's market, right? So right now we're looking at a month and a half to two and a half months worth of supply in almost every category in Newton, Brookline, and Boston.

Right? So that actually equates to a pretty strong seller's market. As a seller's market starts to change at five months worth of inventory, and we are nowhere near that at this point. The only neighborhood that's seeing a little bit more inventory and price. Property categories, multi-family houses in Brookline are creeping up there to three and three quarters, months worth of supply, which we'll probably see that market start to change a little bit.

There's not usually a lot happening in that, in that spot in the market anyway, so anyway, I hope that helps take a look at our blog so you can kind of see in the neighborhood you were in or the neighborhood you're interested in. What's going on in those. And we'd be happy to fine tune that a little bit for your exact zip code, your exact neighborhood within that zip code and your property type to help you and your family make the best decisions for yourself.

If there's anything else we can do to help you along this process, please feel free to contact us.