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Massachusetts ... Let the price cutting begin

 
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PostPosted: Mon Nov 10, 2014 2:33 pm GMT    Post subject: Massachusetts ... Let the price cutting begin Reply with quote

"The hottest housing markets in Massachusetts in Q3; let the price cutting begin (BBJ DataCenter)"

http://www.bizjournals.com/boston/real_estate/2014/11/the-hottest-housing-markets-in-massachusetts-in-q3.html?page=all

I snipped a bit out of the headline for the topic subject, but there's a lot in the article in exactly that vein. Here's a sample:

"The market's third-quarter downshift was apparent in communities from Cape Cod to the Berkshires, as sellers in high-end as well as lower income areas of the state resorted to deep price cuts to lure buyers their way. According to data provided by Zillow, some 42.7 percent of all homes listed for sale saw a reduction in their list prices during the three-month span that ended Sept. 30, while the average price cut per listed home was 5 percent."

...

"The market's apparent softening was widespread. For example, in the Western Massachusetts communities of South Chesterfield and Brimfield, more than 70 percent of listed homes saw price cuts in the third quarter. In Lawrence, where 49 percent of listed homes saw pricing reductions, the average cut was 8.8 percent. Further south in Newton's tony Nonantum neighborhood, some 38 percent of listed homes combined for an average price cut of 8.2 percent."

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