Welcome to our July market update! We're taking a look at the North of Boston real estate market, specifically single-family homes that sold in Middlesex and Essex counties, and comparing June of 2023 to June of 2022. So last year there was very little on the market and many of us complained that there were not enough homes to sell. However, this June we're actually down even further. Inventory is down 40% and as a result of that the total number of homes sold is down 30%. Days on market went from 18 days on average up to 24 days on average, and median sales prices remain steady from $685,000 down to $681,000.
So we're starting to see some seasonality come back to the market and over the past few weeks the intensity of the market came down just a small notch. This is nothing for home sellers to worry about, as there is very little on the market. So if you're thinking about selling your home you would still have a lot of leverage. If you take the time to prep your home so it is shown in the best light when you hit the market, you have your best shot of attracting buyers that are not only willing to pay top dollar for your home, but also give you the best terms. If you're thinking about buying or selling a home in the suburbs North of Boston give us a call at 617-275-3379!
Curious about the numbers for your area? Click the link for your town!
Andover, North Andover, North Reading, Reading, Stoneham, and Wakefield
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