Walpole MA Current Real Estate Trends

Hey there! 🏡 Let's chat about the current state of the real estate market in Walpole, MA. Here's what's been happening:

- 📈 The average list price in town has seen a significant increase of 36% since September 2022. However, the number of single-family listings hitting the market has gone down by 22%. This has resulted in a 22% decrease in the total number of single-family homes sold compared to the same time last year.

- ⏳ If you're looking to sell, you'll be glad to know that in today's market, sellers are receiving acceptable offers in just 15 days on average.

- 🏢 Condominiums in town are also a hot commodity. Currently, there are only 3 condos available for purchase, and interestingly, 2 out of the 3 are in age-restricted communities.

- 💰 The average sale price for a condo in Walpole now stands at $569,626, reflecting a 13% increase from last year. However, condo inventory has taken a big hit, dropping by a whopping 80% since the end of the 3rd quarter in 2022.

- 📉 If the trend of low inventory continues, we can expect average home prices in Walpole, MA, to keep on rising.

- 💼 When it comes to financing, the current average rate for a 30-year fixed mortgage is 7.44%, according to Mortgage News Daily. Interest rates will play a crucial role in determining whether inventory levels go up or stay low. Many current homeowners are holding onto their properties due to the very low interest rates they secured when they purchased or refinanced.

- 📞 If you have any questions or need more specific information about the Walpole real estate market, don't hesitate to reach out to our team. We're here to help! 📊🏠💬