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June 2020 North of Boston Real Estate Market Update

This week we take a look at how the north of Boston real estate market for May performed compared to last May along
with week 12 and the effect of social distancing on the market, specifically for Middlesex and Essex counties. Last week we had 2,928 homes available for sale which is an increase of 4% compared to what we saw the week before.  Last week marked the highest number of homes to come on the market year to date at 844 homes, an increase of 15% compared to the week before.  We also had 789 homes go pending last week which is an increase of 21%.  This is also highest amount of pending sales that we had year to date.  Overall 27% of the market was absorbed through pending listings which shows that it is still a strong seller's market.  In May, the amount of homes sold compared to last May went down 40%.  However, inventory also went down about 42%.  Days on market is down 80%.   Median prices are in fact up 4% despite the pandemic. 

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