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What Buyers and Sellers Should Know About Today’s Market in Jamaica Plain in Boston, MA
Click here for full market activity report
Hello, Jamaica Plain residents! If you’re thinking about buying or selling a home in our neighborhood, understanding the current market trends is key. Here’s a snapshot of the housing market in Jamaica Plain, Massachusetts, with insights that could influence your real estate decisions.
Right now, we’re experiencing a seller’s market with 2.76 months of inventory available. This means there are fewer homes available than there are buyers looking, which can lead to more competitive offers and potentially higher prices. If you’re selling, this is an opportune time to list your home. Buyers, be prepared to act quickly and make competitive offers to secure your desired property.
The inventory has increased by 74% over the past month and 58% over the past year. This growth suggests a gradual increase in housing options for buyers, though the market still favors sellers. As a buyer, more inventory means more choices, but the competition remains strong. Sellers, while the increase in inventory might suggest a slight easing of the market, it’s still a good time to list your property with demand remaining high.
Homes in Jamaica Plain are selling for about 98% of their asking price. This ratio indicates that sellers are getting close to their desired price, reflecting the current demand. For sellers, this means setting a realistic asking price could lead to a successful sale. Buyers should be prepared to offer near the asking price to avoid losing out to other competitive offers.
The median days on market for homes is 33 days, which suggests properties are moving at a steady pace. This steady turnover is a sign of a healthy market. Sellers can expect a reasonable timeframe to find a buyer, while buyers can anticipate properties to be available for a short period before they are snapped up.
Lastly, with a median sold price of $534,000, this sets the tone for pricing expectations. Sellers should consider this figure when pricing their homes to attract potential buyers, while buyers can use this as a benchmark for affordability within the area.
Navigating the real estate market requires both understanding and strategy. Whether you’re buying or selling, consider reaching out to Kate Fallon at Coldwell Banker Realty. She can provide personalized guidance tailored to your unique situation. Feel free to get in touch for more in-depth insights and assistance.
