#Boston #MA #luxuryhomes high-end #listings up slightly in June #homebuyers #moveupbuyers #realestatemarket

Boston, Massachusetts high-end listings up slightly in June

Sellers of high-end homes with the flexibility to take a wait-and-see approach on the pandemic recession jumped back into the market nationwide in June, according to a new report from Zillow.

Zillow listings for the top fifth most expensive homes plummeted by more than 50% year over year in May, but that figure bounced back to a year-over-year decline of 9% in June. Boston almost mirrored the national figure with a reported 11% year-over-year decline in June. New listings were up just 2.8% month over month, and the month-over-month median list price was up 3.4% to $638,202.

The Zillow report notes that affordable homes have not seen the same rebound with new listings down 29% year over year. That could be a result of “widespread unemployment, decreased market activity, and other financial constraints that present challenges for both buyers and sellers at the bottom of the market.”

“The way unemployment has hit in this recession — with more layoffs in service, retail, food, entertainment, and other jobs unable to be done remotely — could result in vastly different experiences on either end of the housing price spectrum,” Zillow economist Jeff Tucker said in a press release.

“Millions of Americans who lost jobs or income are only able to stay in their homes right now thanks to extraordinary forbearance programs, which means they likely have to pause their plans to trade up or move to a new city.

But for wealthier homeowners whose employment has remained stable and are looking to trade up, now may be an opportune time to sell and lock in a record-low mortgage rate on their dream home.”

The post Boston high-end listings up slightly in June appeared first on Boston Agent Magazine.

Homebuyers: For access to all listings and to find a homebuyers real estate agent that will represent only your interests call 800-935-6222 or click the button below to connect with MABA. At MABA we got you!

Selecting the Right Homebuyer's agent

Unlike most other real estate agents, a MABA home buyer's broker never represents both a buyer and seller in the same transaction so you never have to worry whether a MABA agent is really looking out for your best financial interests. A MABA buyer's agent acts as your advocate, real estate educator, advisor and negotiator, always loyal to you and dedicated to helping you find and buy the best home with the best terms at the price and showing you which homes to avoid along the way.

Fewer than one percent of the agents and brokers in Massachusetts meet our high standards. 

Whether you are ready to buy now or just beginning your home buying journey, click here to choose a Great Buyer's Agent to answer all of your home buying questions!