This week’s real estate sales continue to remind us that the market is slow! This week we had only one property transfer which was:
Property: 229 Dalton Road Price: $765,000
Seller: Charles D. Porter III
Buyer: Michael S. & Kara M. Megrian
Since 2020 Holliston has averaged 16 sales during the month of January, well above the sales this month which sit at 6.
It is also worth noting that the property values have increased rather significantly over these years, from $567,960 average in 2020 to $716,650 for January of 2024.
Interest Rates
There is no doubt that raising interest rates also have an impact on the housing market. In January of 2020 the average interest rate was 2.88 while the average rate in January of 2024 is 6.2725.
This definitely has an impact on buyers since at 2.88 borrowers pay approximately $4.15 per thousand, versus $6.17 per thousand at 6.2725.
