2023 Real Estate Predictions - The 2022 housing market was defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it's put the market into a reset position.
Martha’s Vineyard Monthly Market Updates
MARTHA'S VINEYARD MARKET UPDATEA BUYER’S MARKET is when there are more homes available than buyers looking.A SELLER’S MARKET is when there are more buyers looking than homes available. How to determine if it is a seller's or buyer's Market. In general, it’s a seller’s market if inventory is adequate for 5 months (or less) worth of sales. If you have 5 to 7 months of inventory, you have a...
✨ MARTHA'S VINEYARDLOCAL MORTGAGE RATES ✨ CURRENT NATIONAL MORTGAGE RATE AVG. I know that many of you have read in the headlines recently that the interest rates for mortgages have gone up yet again! 😤While 6.92% is the national average for a 30-year fixed-rate, according to Freddie Mac, I encourage you to reach out to your LOCAL LENDERS as their rates may be much lower....
📊 MARTHA'S VINEYARD MARKET UPDATE 📊 https://youtu.be/dDvmIvcHNJM Current Martha's Vineyard real Estate market stats for buyers and sellers are in! Here are the numbers for September 2022 provided by our local Martha's Vineyard MLS: - Homes Sold = 36 (down 18% from September 2021)- Median Days on Market = 20 (vs. 30 days last September)- Median Sales Price = $1,787,500 (up...