Last March after everything shutdown we had a huge decline in the amount of new homes being listed on MLS. Despite fewer listings on MLS when we're looking at March of 2021 we still had close to 31% less inventory than March of 2020. Even though there were fewer homes on the market buyer demand remains so strong that in March of 2021 we actually saw an increase close to 3% in the amount of homes sold. Days on market is down as well too close to about 18%. Median sales prices are up close to 10% compared to what we saw last March. The market remains strong however some sellers are under the impression that because the market's strong they can take some shortcuts. However, what we've seen and what we recommend to sellers is don't take those shortcuts because it could cost you tens of thousands of dollars. We've seen buyers pay $25k-$100k over asking. So if you're looking to maximize the sale of your property don't take any shortcuts now. For buyers out there it is certainly a frustrating market and many are thinking maybe they should put their search on pause and resume later on. In our opinion that's not a good idea. We have seen more listings come on the market every week. Now having said that the market remains strong. We're seeing most of the new listings coming on the market get absorbed by buyer demand. So if you are prepared to put in a strong offer not just a competing offer but one that will get accepted our advice is to keep looking.
If you have any questions and you're thinking about buying or selling in the suburbs north of Boston give us a call at 617-275-3375.
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