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Social Distancing and The North of Boston Real Estate Market Week 17

  We're taking a look at week 17 and the effect of social distancing on the north of Boston real estate market specifically Middlesex and Essex counties for single-family homes and condominiums. Last week we had 2609 homes available on the market which was a decrease of 15% compared to what we saw the week before.  We had 793 new listings come on the market, that was an increase of 232% compared to what we saw the week before.  However, it was more in line of what we saw the week before fourth of July. We had 544 homes go pending last week which is a decrease of 48%. However, again probably a result of fourth of July weekend. Overall we had 21% of the market go pending last week which does indicate it is still a strong seller's market.  Overall how did June compare to last June?  The amount of units sold went down close to 29% however inventory also went down close to 30%. The number of units sold went down likely because we have less inventory.  Days our market did go up close to 12%.  Median sale prices went up close to 3%.  Keep in mind what we saw the last week in June was closer to the ninth week of social distancing in mid-May.  Great news for sellers, as it remains a very strong seller's market.  For home buyers, it's been tough.  Low inventory means that many buyers are fighting over the same properties.   For strategies on moving to the suburbs north of Boston give us a call at 617-275-3379.  

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