I hope everyone had a wonderful holiday weekend with family and friends. I certainly did, and enjoyed seeing clients who picked up their freshly baked pies.

 

 

 

I saw a great meme that read "December is like the Friday of the year", and another that said, "this month's problems fall under the 'can wait to 2023' category." Those are both reflective of how I feel. December is such a nice time to relax and recharge for the new year. As you have heard me say many times, a few weeks into January our spring real estate market starts in earnest and then it's full force ahead through June! I have a number of great listings in the pipeline that I know you will LOVE!!

 

 

That being said, I would hardly say that real estate activity has come to a screeching halt. Our weekly statistics show that the number of houses going under contract far outweighs what is coming on the market, with a typical amount of properties for sale in all price ranges. The average days on market is around 25 in most towns- a healthy timeframe and not alarming.

 

 

There are still some bidding wars out there. As an example, my client found herself up against 3 others in Natick this week. Some houses have been sitting, but in many cases that means the price was too aggressive from the start. 'Pricing matters' will be the mantra of 2023! 

Nationally, the federal reserve hinted that they may not be quite as aggressive as they initially thought on raising rates this month, after inflation showed signs of cooling. In fact the mortgage rates dropped down from their high of 7% to the mid 6%'s in the last few weeks. An adjustable rate seems to be the best way to go right now and then you can refinance when they drop.

There are still renters out there as well- even during this holiday period which can be slower. My prediction is that rents will not continue to rise as aggressively as they have been - at least for the foreseeable future. A good landlord can't be greedy right now and has to be smart - it doesn't make sense to raise rents right now with such uncertainty out there amongst tenants. Having a steady tenant is much more valuable.

 

 

So sit back and relax this month. Give yourself time to recharge if you can- of course, if you want to buy your loved one a house, give me a call!!!

 

 

And for all you Boston readers, wasn't it fun having some royalty around? My amazing assistant Elise was quite the Royal Watcher and found the Princess of Wales just outside her door in East Boston. Enjoy!

Are you curious about what your house is worth in this market? I'm always available and more than happy to provide an analysis for you! Email me at teri@teriadler.com or call at 617-306-3642 to schedule a meeting.