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Look Inside My Crystal Ball: Real Estate Predictions for 2017

Look Inside My Crystal Ball: Real Estate Predictions for 2017

 

real estate predictions

What will 2017 bring for real estate in Central Massachusetts?

 

Oh, if I had a crystal ball, I could advise my clients exactly on what to expect for 2017. Alas, I am a lowly real estate agent and can only make predictions based on the trends of the past year and the current activity in the market. As such, here are my big four predictions for 2017:

1.  Buyer demand will outweigh seller activity.  The towns in Central Massachusetts have much pent-up demand. Buyers who have waited years to get into the market are finally coming out to look at homes.  However, sellers will think carefully about putting their homes on the market, hoping to capture top dollar at the (unpredictable) peak of the market.  

2.  Bidding wars will continue.  A rarity in our area, we started to see bidding wars on desirable homes in 2016. With low inventory, this trend will continue until supply starts to meet demand.

3.  Homes needing work will lag on the market. The issue is, how salable is a property? Homes that have been maintained and are in good condition will sell quickly, but those in which maintenance has been deferred will grow stale as they sit on the market.  The percentage of buyers willing to purchase a home that needs significant updating is dwindling. Such properties will need to be bargain priced.

4.  Home prices will rise but at a steady rate.  Home sellers may dream of another boom market; however, appraisers are being conservative as they analyze home values. Prices will rise at a slow and steady pace. We are already seeing home sellers having to adjust their selling price following appraisal.

 

Says the Crystal Ball: 2017 will be a healthy year for real estate. Homes will sell at a faster pace, but not at an extraordinary increase in price.

 

 

Putting Today's Technology Tools to Work for You

 

Text and photos copyright Kathryn J. Acciari unless otherwise noted. 
All rights reserved.

 

 

 

Sturbridge & Central MA Real Estate and More

 

 

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Kathryn Acciari, RSPS, SRS, RESE, CFA

Century 21 MetroWest
45 Lyman Street  Suite 14
Westborough MA 01581

Serving the Route 9/20 Corridors of Central Massachusetts
Sturbridge to Westborough

Cell: (508) 982-0686   
Email:
kasellshomes@gmail.com

Web site: kathrynacciari.com
Blog:
Real Estate Blog
Twitter: @kacciari

Comment balloon 12 commentsKathryn Acciari • January 27 2017 07:49PM

Comments

Good afternoon Kathryn,

I would have to say your crystal ball looked a lot like mine!

Make yourself an astonishing day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) over 1 year ago

Hello Raymond. I am glad to hear it...and I hope my predictions come true for you!

Posted by Kathryn Acciari, RSPS, SRS, REALTOR(R) Sturbridge-Shrewsbury MA (Cameron Real Estate Group) over 1 year ago

I love your photo.  No bidding wars in my market, not in a decade.  But I can smell them around the corner.

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) over 1 year ago

Great Picture! I like your post I think your predictions are quite right we definitevelyare moving to a very balanced market, of course, with some exceptions.

Posted by JM Padron, CCIM, MRICS, CCIM, MRICS, Serving South Florida (INTERNATIONAL COMMERCIAL ASSOCIATES) over 1 year ago

Hello Kathryn Acciari, I like your predictions from your Crystal ball.  We will all have to compare Dec 31, 2017.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) over 1 year ago

Thank you very much for sharing some of your predictions.

Have a most productive 2017!

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 1 year ago

Steady is the operative word.  We've rebounded nicely off the crash and just need to keep progressing at a steady pace so we don't build bubbles.  Thanks for your forecast Kathryn. Best of luck to you this year.

Posted by Jerry Murphy, CRS, SRES, Anthem, Phoenix, and Scottsdale AZ Real Estate (Long Realty West Valley) over 1 year ago

Good luck to you also, Jerry. I hope your market remains steady and sustainable in growth.

Posted by Kathryn Acciari, RSPS, SRS, REALTOR(R) Sturbridge-Shrewsbury MA (Cameron Real Estate Group) over 1 year ago

Tammy, I hope you are on the receiving end of any multiple bid situations you encounter!

Posted by Kathryn Acciari, RSPS, SRS, REALTOR(R) Sturbridge-Shrewsbury MA (Cameron Real Estate Group) over 1 year ago

I wish I had a real crystal ball :-)  I can't wait to see how 2017 shakes out. -Kasey

Posted by Kasey & John Boles, Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties (Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com) over 1 year ago

Kasey, it is going to be a busy year, I believe. 

Posted by Kathryn Acciari, RSPS, SRS, REALTOR(R) Sturbridge-Shrewsbury MA (Cameron Real Estate Group) over 1 year ago

I hope your crystal ball is right.

 

Posted by Pamela Cendejas, Second Self Virtual Assistance (928) 692-3235 (Second Self Virtual Assistance) over 1 year ago

Participate