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    2023 Greater Boston Market Outlook: What to Expect

    January 25, 2023
    By Maggie Li
    2023 Greater Boston Market Outlook: What to Expect

    2023 Greater Boston Market Outlook: What to Expect

    As we kick off 2023, the question on everyone's mind in Newton and Brookline is: Is the market crashing or just correcting?

    The Local Reality

    Inventory Scarcity: Unlike the national trend, our local inventory remains at historic lows. In Cambridge, single-family listings were down 13% in late 2022. Interest Rate Impact: Buyers have more leverage than last year, but monthly payments have increased. Expect a 'flight to quality' where renovated homes still see bidding wars. Price Stability*: We project modest appreciation of 2-4% in premier zip codes due to the proximity of the Life Science and Tech sectors.

    Buyer vs. Seller Strategy

    Sellers must be priced for the present, not the 2021 peak. Buyers should look at 2-1 buydowns to manage initial monthly costs.

    [[CTA]] Curious about your home's value in the 2023 landscape? Contact me for a custom market analysis.