Not even Covid-19 cases on the rise, colder weather, or the upcoming holidays can stop this real estate market. The pace may be a little slower for real estate agents because there are so few houses to show, but that's really the only reason. My colleagues and I still have a stable of buyers hoping to find their dream house!
The surge in the number of Covid cases is having a quiet negative impact, but only just slightly. A showing I had scheduled was canceled last minute, because the sellers were uneasy having my buyers and me inside. As I have touted all along however, I am quite pleased with the protocols my industry has put in place to protect buyers, sellers and agents. Masks and social distancing with each showing have worked very well. I have (thankfully) not heard of any reports of real estate transactions being the source of infections so far in our area.
The article this week I am highlighting is from the Boston Globe (thanks Mom for sharing with me!) and it focuses more narrowly on Massachusetts. According to the Warren Group (a real estate analytics firm), "the cost of a single family home in the state has jumped 17% since October 2019 to $455,000, while the price of a condo went up to 10.8% year over year to $410,000." Of course this is a very large data pool and it is not broken down by price range and town. We will be sure to get you those town-specific numbers towards the year’s end, but it demonstrates once again what we have been hearing endlessly about the strength and momentum of this year's real estate market.
I look forward to our pie giveaway next week for our clients. It's a great way to connect and see everyone! Thanksgiving is my favorite holiday and while it's a little different this year for so many reasons, I hope we can all exhale at least for a few hours as we sit around the table with immediate family, thankful for all that we have. I'll take next week off for the holiday, but I'll be back with another letter in two weeks.