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COVID-19 | Special Real Estate Market Report | Boston & Cape Cod
Our first concern is that you keep safe by staying update on best practices by visiting Mass.gov – Featured Services with a link also to CDC.gov to monitor the whole country.
Our second concern is to keep you updated on the affect of the COVID-19 pandemic on the real estate market.
According to MLSPIN, the market place for Boston’s residential real estate here’s what’s happened in the downtown market between March 1st and March 18th
New listings 133
Under Contracts 95
According to CCIMLS, the market place for Cape Cod’s residential real estate here’s what happened between March 1st and March 18th
New listings 320
Under Contracts 197
For Sellers => Seller market – there is still limited inventory & buyers will be driven by need and low interest rates.
Seller Tips: 1. clean inside/outside 2. Complete D.I.Y (do-it-yourself) projects and/or invite/schedule contractors to price out major deferred upgrades so you have the estimates ready for the negotiation stage.
For Buyers=> Buyer market – there will still be many “have-to-sell” sellers because of the resulting negative economic circumstances and you can take advantage of historically low rates that should remain to boost the economy.
Buyer Tips: 1. Secure your financing commitment (do your math) 2. Get set up online from with a direct feed of properties from the main origination source M.L.S. (Multiple Listing Service).
Again, our #1 priority is to be a resource for up to date real information on how to protect yourself and your family and please do so by staying up to date by visiting Mass.gov and CDC.gov.
We will continue to keep you updated on the real estate market.