Market Insights

January & February 2018 Dennis MA Home Sales Data

Sales in the five Villages of the town of Dennis reflect the most significant market trend in the past 15 years as inventory maintains historically low levels. Compared to 2017, inventory is down year-to-year almost 30% as prices continue to climb.  Never before in recent history have Sellers seen such a golden opportunity to list and sell their homes quickly. Simultaneously, Buyers must be prepared to "pounce" when properties become available.  The adage "it won't last long" is no longer a sales strategy because it's a FACT.  86% of sales in February were below $682,000, as the market shift to "bargains" is at an all time high.

Nevertheless, it's easy to fall into strategies that backfire for both Sellers and Buyers. The wisdom and experience we have gained during these dynamic times place us in a position to offer you, our clients, the best tools and skills with which to navigate these turbulent waters.

Dennis MA Home Sales Chart Jan & Feb 2018

Will Interest Rates Rise and How Might that Effect You?

Interest rates fell approximately a half a point in the weeks following Ben Bernanke's announcement in late September that the Fed would continue their pace of bond purchases. This purchasing of bonds has acted as a stimulus package for the housing industry as it has kept mortgage interest rates at historic lows. However, rates over the last few weeks are again inching upward.

There currently is a window of opportunity for you to still get a sub-5% interest rate. This opportunity is expected to disappear in the very near future as most experts expect the Fed to taper the bond purchasers in December.

Even Ben Bernanke, Chairman of the Fed, suggested that the Fed could still scale back the stimulus this year. He stated: "If the data confirms our basic outlook, then we could move later this year."

Here is an example of how an increase of 1% could impact YOU as a buyer:

October 2013 Slide for Lomenzo Edge

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