The South Shore MA real estate market continues to demonstrate unprecedented behaviors. What has been an extremely competitive market through the pandemic is showing signs of slowing. Yet, the slowdown is happening in a matter of weeks rather than months.
"The market is changing faster than I've seen in my twenty-plus years in real estate. In a matter of a few short weeks, we've seen shifts in the South Shore real estate market that indicate changes are happening. There are fewer instances of multiple bids and over-asking offers. We're also seeing price adjustments on a daily basis," says Michelle Larnard, owner/broker of Michelle Larnard Real Estate.
National trends such as a decline in builder confidence and rising inflation are two factors contributing to the slowdown. According to the National Association of Home Builders, builder confidence has been on a decline for six straight months. This is due in part to rapidly rising interest rates and home price increases.
"From what I see we are easing back into a pre-pandemic market where homes that are priced right and marketed appropriately will sell relatively quickly. Now, our biggest challenge as real estate professionals is helping clients understand the recent shifts and having honest discussions on how the changing market will impact their goals," says Larnard.
Below are Q1 and Q2 numbers for area towns in the South Shore real estate market.
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