The South Shore MA real estate market continues to be extremely competitive. We are experiencing multiple offer situations with competitive terms within days of properties hitting the market.
One trend we are seeing is a positive reaction from lenders. They are initiating programs which allow sellers opportunities to identify and buy a new home as they prepare their current property for the market. These programs include sale leaseback agreements and blanket mortgages.
Another trend that may affect the market is a possible reverse migration back to the city. Working from home during the pandemic made it easy to live anywhere. As a result there was a mass exodus from Boston to the suburbs. However as more employers require staff to return to the office, buyers are once again factoring in location. Those who bought homes in the suburbs at the start of the pandemic could be looking to sell. This is due to their desire for shorter commutes and the fact that they have earned significant equity in a short time period.
Here's a snapshot of year over year market conditions for local South Shore MA real estate.
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