October was a busy month as new listings jumped 73%. The flood of newly listed homes means that buyers have more inventory to choose from, which reduces competition in what has most recently been a tight real estate market. Sellers with an active listing carrying over from the summer months will have to consider dropping their asking price in order to get more attention from buyers. Sales numbers for October suggest that prices are beginning to slip. For homes listed between $300k - $600k in Plymouth and Norfolk county, the median sales price dropped .03%. This was no doubt a modest number however, this shift in home prices suggest that the market is starting to cool off.
Now is a good time to buy on the buyers side. On the sellers side, it's a great time to learn about the value of your home to determine current equity and weather it's a good time to sell. I would be happy to discuss your options.
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