Here's a look at the real estate market in the suburbs north of Boston specifically Middlesex and Essex counties, for single-family homes and condominiums, during the week of November 8th through the 14th. Not much has changed since the previous week. Last week we had 2,802 homes available on the market just a slight decrease of 2% compared to the week before. We had 531 homes come on the market last week that is a decrease of 7% compared to the week before. 616 homes went pending last week, that is a very slight decrease of 1% compared to the week before. And overall 22% of the market did get absorbed through pending listings which shows it remains a seller's market. That number has been very consistent over the past three weeks.
If you're currently searching for a home this is not the time to put your search on hold. Although we are seeing a decreasing in the amount of new listings come on every week, interest rates remain very
low and competition from other buyers who may decide to put their search on pause during the holiday season, may be low. So keep at it and keep looking. For home sellers out there although the market isn't what it used to be in late summer, the market remains very strong and there is still a lack of inventory. As we mentioned before, we are seeing a decrease in the amount of new listings coming on the market. So although every situation is a little bit different, to discuss timing feel free to give us a call at 617-275-3379.