Selling Homes in Newburyport Massachusetts
After maintaining a steady market here in Newburyport and Plum Island over the past two years it now appears to have dramatically slowed over the past couple of months. Prices have held up fairly well in relation to some of the other communities and there has been some pressure from bank appraisers when property is under agreement. Tighter underwriting guidelines have also caused many deals to fall apart at the last moment. The towns of Newbury and West Newbury have not held up as well because of the lack of diversity in their housing stock. But overall, real estate prices in the Greater Newburyport area have held up somewhat better than the Greater Haverhill and Salem Markets.
Although Sales overall have slowed, desire for home ownership in our towns is still high. This is evident in the numbers of potential buyers still roaming our listing inventory looking for the next and best deal.
Price is everything!
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