Both single family and condo prices rose across all three communities in 2017. (Newton, Needham, Brookline). Sale to original list price ratios were slightly higher as well, averaging 97% in the single family home market and 99% in the condo market.
Although absorption rates – the rate at which homes sell in a given market– remained extremely high in the low to mid-market, they tapered off significantly in the upper market, where we have begun to see rising inventories. These inventory levels, along with new tax law and potentially rising interest rates make 2018 an interesting yet uncertain year for both buyers and sellers. If you have any questions about how these new dynamics may affect you, please do not hesitate to reach out. I am happy to provide additional insights regarding the market and the value of your home.
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