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Real estate can be overwhelming. “Realty Bites” makes sense of the madness, offering the insight behind the headlines and the strategy behind the sale.
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This October, even the data is feeling the chill. With the federal shutdown halting the release of official jobs reports, we are left turning to private sources, and the story they tell is far from reassuring. According to ADP Employment, job counts fell by 32,000 when economists expected a gain of 50,000. Last month’s gain of 54,000 was quietly revised down to a net loss of 3,000.
What does that mean for housing? Just as the autumn leaves are starting to fall, interest rates are likely to follow. Weak economic data has a way of nudging the Fed toward rate cuts, and for buyers, sellers, and investors, the next few weeks could bring a very different backdrop than the one we have been navigating all year.
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Realty Mini Bite | Ipswich’s Stone Walls Were Never Just Decoration
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Drive through Essex County in October and you’ll notice the leaves, but look closer and you’ll see the old stone walls. Essex County isn’t just about fall leaves. Look closer and you’ll see the old stone walls. By 1871, Ipswich alone had more than 400 miles of them, enough to stretch to Washington, D.C.
Built to clear farmland and fence livestock, they now frame our neighborhoods with a kind of permanence you don’t often find. In housing, we talk about “good bones.” Here, the land has them too.
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Newburyport Fall Fest 2025
October 11 & 12, 10 a.m. to 4 p.m.
Downtown Newburyport comes alive with local bands, food trucks, artisan booths, and seasonal festivities.
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23rd Annual New Hampshire Film Festival
October 16–19
Located at various venues throughout Portsmouth. Independent films, panels, social events.
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10th Annual BARKtoberfes
October 18 at Ipswich Ale Brewery
A pet-friendly fall celebration with food, drink, and fun for dog lovers.
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Essex County prices remain resilient, with the median home still trending up about 6% year over year. But zoom in on Newburyport and the picture shifts, August’s median sale price slipped nearly 4% from last year, even as inventory stayed steady.
The lesson? Local beats national every time. Essex County overall still shows strength, but in town-level markets like Newburyport, buyers are pressing pause and sellers need sharper strategy.
If weak jobs data pulls rates lower this fall, momentum could return quickly. Until then, precision, not averages, will decide who gets the advantage.
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October Focus: First-Time Buyers
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Last month we looked at upsizers. This month, it’s about first-time buyers, the group most sensitive to rates and headlines.
The good news? If the economy keeps showing cracks, mortgage rates are likely to ease. Even a half-point drop can shift affordability by tens of thousands of dollars.
The challenge? Competition doesn’t vanish. In Essex County, nearly half of first-time buyers still face bidding wars. The edge goes to those who come prepared: pre-approval in hand, flexible terms, and a clear ceiling.
Buying your first home isn’t about timing the bottom. It’s about recognizing when the numbers work for you, then acting decisively.
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For Sellers
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Headlines about job losses and softer data can spook buyers, but for sellers, context matters. Essex County homes are still closing above last year’s prices, even if Newburyport showed a small dip in August.
What does that mean if you are listing this fall? Buyers are cautious, but not gone. Well-prepared homes, staged, priced with precision, and marketed with the right story, continue to draw serious offers.
The market is rewarding alignment, not luck. Price it right, present it well, and you’ll still capture attention in a season when distracted buyers are tempted to wait for spring.
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Stories matter - it's the way memories are preserved and new ones created. And if you're ready for your next real estate chapter, I'd love to stand by your side and help you write it. Call, text or email - let's start the journey.
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Whether you're buying, selling, investing or just browsing - I’m here to help provide you with the insights to make sense of the data - and let’s together write your next real estate story.
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©2006-2024 Engel & Völkers® Americas, Inc. All Rights Reserved. Each Engel & Völkers real estate brokerage is independently owned and operated. Engel & Völkers fully supports the principles of the Fair Housing Act and is an Equal Opportunity Employer. All listing information is from sources deemed reliable. However, no representation is made as to the accuracy or completeness thereof and should be independently verified.
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