Here’s a look at the north of Boston real estate market, for Middlesex and Essex counties. So last week we had 2,424 homes available on the market a decrease of 7% compared to the week before. New listings had a huge increase of 74% as 965 homes came on the market last week. Now that's most likely due to many home sellers deciding not to put their home on the market right before Labor Day and wait until after the holiday weekend. Pending homes decreased by 18% from the week before. Overall 25% of the market did get absorbed through pending listings which shows that it's still a strong seller's market. Although those numbers dipped from what we saw the previous week, we are anticipating that that is due to the holiday weekend. We’ll continue to watch the numbers to see if that is a seasonal trend. We are still seeing multiple offers out there and the market does remain strong.
So the total number of units sold went down 5% compared to August of 2019, that's due to the lack of inventory. Homes available for sale went down by about 19%. It's taking less times for homes to sell as days on market is down 5.5%. However, homes are selling for more money as median prices are up 12.1%.
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