Real Estate Agent · Boston, MA · Member since 2025 · 112 posts · 28 votes
Realtor.com's Market Clock has the U.S. at 4 o'clock — balanced, leaning toward buyers — and the Boston metro at 9 o'clock, tightening back toward sellers. Both can't describe the same state, but in MA they kind of do.
The numbers right now: September pending sales fell 7.3% nationally, but the Northeast held up best at −4.2%. Freddie Mac's 30-year is back over 7% (7.40% in the latest survey). MA single-family inventory hit 8,495 active listings at the end of September, up 27% year over year — yet Q3 closings were up 2.1% and homes still sold at 100.3% of asking on average.
I'm an agent and investor here (17 rental units, mostly Worcester County and the North Shore), and I'm seeing both markets at once: stale listings are taking price cuts, but anything clean and priced right still moves fast.
For those actively buying or selling in MA this fall — are you underwriting this as a buyer's market or a seller's market? And does your answer flip inside vs. outside I-495?
In Worcester it is clearly a buyer's market with the amount of inventory 115 Multis for sale in Worcester. But sadly the sellers haven't gotten the memo. I think it is because agents are doing comps on stuff sold 6 months ago and in a falling market they should only go back 2 months at most. The more inventory the more opportunity. But if owners want to sell they need to be more reasonable. The market is trading at 100-105 X monthly gross rents not 120 like it was a year ago
Appreciate this, Brian — that Worcester picture is exactly why I split the two markets in the post. Boston staying tight while Worcester carries that much multifamily inventory are two different underwriting conversations.
Your point on comps is the one I'm seeing too: in a shifting market, going back six months overstates value. I underwrite Worcester off recent sales and actual rents, not last year's multiples — if a deal only works at the old numbers, it doesn't work.
Are you seeing sellers start to adjust on the smaller multis, or mostly still holding? Happy to connect — DMs open.