Eckington By The Numbers || Weekend 07.01.23

Happy 4th of July Eckington!

Please see below for the summary real estate numbers, the link to download the printable PDF of the "Eckington Sales Tracker & Open House Guide", and a link to see all active listings currently in our neighborhood.

This week in Eckington the active listings stayed at 30 with 8 closings taking place in the last 30 days. We took a deeper dive into the mid-year real estate data we pulled.  Here are a few things we expect to continue through the end of this year. 

A Mid-Year Update on the Real Estate Market

There’s been so much news lately relating to the economy and real estate. If you’re planning to buy or sell a home soon, you may be wondering what it means for you. While headlines may paint another picture of the market, anyone out looking for a home are often experiencing competitive conditions.

A More Balanced Market

After low interest rates caused a sales frenzy during the pandemic, higher interest rates have created a more balanced market. Home prices have cooled, and in some markets, prices are down from their peak levels. Although inventory has increased, the number of available listings is still low.

What does this mean for homebuyers and sellers?

Buyers: While the level of urgency has lessened, multiple offers are often received, so buyers still need to be prepared to make an offer quickly when they find a home they love. In general, it is taking only slightly longer for the typical home to sell than it did during the pandemic market.

Sellers: It’s still a great time to put your property on the market as the supply of homes available remains at record low levels.

As of Friday, June 30, 2023, the current average interest rate for a 30-year fixed mortgage is 7.02%

*We source this data from Mortgage News Daily. 

- DOWNLOAD - \\ ECKINGTON SALES TRACKER & OPEN HOUSE GUIDE //  https://Eckington(roperties.com/TRACKER

- ACTIVE LISTING LINK - \\ TO ALL ACTIVE LISTED PROPERTIES IN ECKINGTON // https://EckingtonProperties.com/LiveLinkAllActive

*Bright MLS has the borders incorrect. It incorrectly includes a section south of Florida in the MLS.

Thank you,
John