• Menu
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Scott Gregory Group

Eastern MA & Southern NH Real Estate Agents

Header Right

  • Email
  • Facebook
  • LinkedIn
  • RSS
  • Twitter

(978) 664-2828  

  • Blog
    • MA Blog
    • NH Blog
  • Our Team
  • Testimonials
  • Contact
  • Blog
    • MA Blog
    • NH Blog
  • Our Team
  • Testimonials
  • Contact

How is the market in Massachusetts in 2022 vs last year? Everything down except ………

What is going on with the market?

Similar trends are statewide and in almost all the counties is the following,. Virtually every category is down except median sales price. The # of Listings are ranging from 10% down up to as high as 25% down….that means 25% less homes since 2021 are being listed and sold.

Another very important statistic , a 500k house with 20% down (100k)…….your affordability (principal and interest only ) has gone down by $200,000 in this example!!!  This HAS to eventually start dropping prices. People can only afford so much per month. This is a correction that we are in the beginning stages of.

Purchase Price Down Payment Rate Principal and Interest Difference
2022 500k  100k 6.60%  $                  2,564.64  $    856.57
2021 500k 100k 3.11%  $                  1,708.07
2022 700k 100K 6.60%  $                  3,831.95  $ 1,269.95
2021 700k  100K  3.11%  $                  2,562.00

 

2 Links for statistics are the following:

  1. Massachusetts statewide
  2.  Select Counties (SGG practices Eastern MA Boston to Methuen ):
    1. Middlessex (page 9 on this link)
    2. Suffolk (page 13 in this link)
    3. Essex ( Page 5 on this link)

Rates 12/2/2021 vs 12/02/2022 (source : https://www.freddiemac.com/pmms/docs/historicalweeklydata.xlsx )

Source is home sale data Massachusetts Association of Realtors: https://www.marealtor.com/press-releases

Previous Post: « NH Statewide Median Sales Prices up 27% up since Spring 2020 (COVID ) !
Next Post: Reading MA November 2022 -YTD vs 2021 »

Primary Sidebar

Search for Homes

News & Tips

  • Massachusetts (104)
    • Andover MA (3)
    • Arlington MA (11)
    • Billerica (1)
    • Burlington MA (4)
    • Dracut (4)
    • Reading (4)
    • Recently Sold MA Properties (17)
    • Woburn MA (16)
  • New Hampshire (27)
    • Hudson (2)
    • Pelham (1)
  • Philanthropy (1)
  • Promotions (4)
  • Real Estate Info (93)
    • Home Buyer Tips (48)
    • Home Seller Tips (9)
    • Market Trends (36)

Footer

Scott Gregory Group

348 Park St, Suite 206
North Reading MA 01864
978-664-2828 MA Office
888-883-7964 Fax
info@scottgregorygroup.com

Copyright © 2023 Scott Gregory Group · All Rights Reserved · Powered by Lanergy Solutions