Volume 48 - February 7, 2025 | |
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February Real Estate Update
Housing inventory drops again
Down slightly over last month and 12% vs. last year!
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As the calendar turned to February, the inventory challenges in the Greater Boston Area real estate market persisted with a slight drop over last month (-2 units) and a larger decline over last year (-25 units) in available properties. The trends were somewhat inconsistent, with most markets/property types down YOY with only Malden/Medford up 9 units. Condos were up in both Medford/Malden and Cambridge MOM, however those numbers were compared to very low levels in January. The expected Spring Selling Season jump in inventory has not yet materialized as the region experiences a cold and snowy winter season.
What does that mean for buyers?
The continued drop in inventory has led to growing frustration for would-be buyers who are eager to find that coveted home. The reality is that new listings are generating multiple offers with waived contingencies that make it very difficult to have your offer accepted. Many buyers are looking for an edge to beat out the competition and need someone they can trust to navigate these stressful times.
What should I do?
Contact your buyer agent and discuss what you are looking for and agree to set realistic expectations. The timeline and price that you originally planned on may not be achievable under current conditions so it's important that you consider your life situation and understand what's reasonable, when and at what price. We realize that it's not an ideal situation but with the proper guidance you can and will succeed!
Source: Inventory is from MLS data as of February 6, 2025
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Real Estate Market Perspectives | |
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BUYER'S CORNER
The Basics of Making an Offer on a House
| Like marriage, homebuying is one part love, one part legal transaction—and it starts with a proposal. When you’re ready to buy a home, making an offer is important, and real estate professionals usually have a variety of standard forms you’ll need to weed through. Read More | |  |
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SELLER'S CORNER
More Homes on the Market Are Going ‘Stale’ Due to This Big Listing Mistake
| More homes for sale are going “stale” after sitting on the market for months, raising concerns that some sellers are overestimating what the market is willing to pay. In Dec. 2024, half of all active listings had sat on the market for 70 days or longer, up from 61 a year earlier, and the longest median time on the market for Dec. since 2019. Read More | | |
Tax Deductions for Homeowners: 8 Breaks You Get for Owning Your Own Home
For homeowners, there is an added layer of complexity when filling out your return. Owning your home is a huge investment, but if you know what you’re doing, you can make some of your money back at tax time.
That’s why understanding the tax breaks for owning your home is key.
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Popular Mortgage Programs for 1st Timers | | |
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We are pleased to offer two very helpful financing programs for first-time home buyers who may need a little help to qualify for their mortgage. Please check out the details for each one. | | |
Tremendous value in North Cambridge! Come check out this spacious two bedroom condo, with welcoming layout, including living room, formal dining with built in hutch, and hardwood floors throughout. You have exclusive use of front and back porches and the patio area. Includes one parking spot, extra storage in the basement, brand new roof and new in-unit washer/dryer. Unmatched location with easy access to Rt. 2 & 16, the Minuteman Bike Path and Davis Square. Public transit is a breeze with Alewife just a 10-minute walk or the 77 bus to Harvard Square around the corner. Close proximity to restaurants, cafes, shopping, and more | | |
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Desirable City Location
$629,000 - UAG!!
15 Millmont St., Fort Hill, Boston
| Perched atop Millmont Street in the heart of Fort Hill, this two bedroom condo leaves nothing to be desired. Upon entering, you'll be greeted by beautiful hardwood floors and open concept living and dining, perfect for hosting. Tall ceilings and large windows make the space feel bright and airy. Quartz countertops span the exterior of the oversized kitchen, finished out by modern maple cabinets and stainless steel appliances. Unit is equipped with in unit washer/dryer and includes deeded off street parking . Nearby to Nubian Square and close proximity to all major neighborhoods in Boston, including the South End, Back Bay, downtown, and JP - only a walk or bike ride away and easily accessible by public transit including the Orange Line. Local shops, restaurants, library, and bookstores are all at your fingertips in this prime location. | | |
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Check off Cambridge’s winter bucket list!
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Meet Flow Agent Michelle Doyle | |
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Specialties: Buyer's agent, Listing agent, Relocation, Notary
There is no better feeling than assisting a new buyer or seller through a smooth real estate transaction! I take the time to listen to you the client and pride myself with earning your trust every step of the way. Listing your home or buying a new home can be emotionally and financially stressful, however maintaining direct communication while staying organized have been keys to my success. I have always enjoyed working in the Real Estate profession. My past skills include Military service, real estate paralegal, underwriter and loan origination. This experience as well as utilizing the latest technology provides me the tools to better assist you while keeping you well informed and at ease. Above all, I truly enjoy creating long-term working relationships that make my job enjoyable. You will feel comfortable working with me. Read More
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Check Out the Flow Website! https://www.flowrealty.com | Check out our updated website and use our real-time chat option. It has become a great resource for our clients. You will find important real estate information, stories on the latest market trends, and spotlights on different neighborhoods in the Greater Boston area. You are sure to find something helpful for your home search. As the leading agency in Somerville/Cambridge, we pride ourselves on delivering personalized, 5-star service to both our sellers and buyers. Our current listings offer the latest in what's available. www.flowrealty.com. | |
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