North of Boston Real Estate Market Update for May 2021

Here's a look at the North of Boston real estate market comparing April of 2021 to April of 2020.  Specifically for Middlesex and Essex counties for single-family homes, multi-family homes, and condominiums. Keep in mind last April was the beginning of the pandemic so the numbers may be off slightly.  In terms of inventory levels, the amount of homes available for sale, are up close to 3.5% compared to last April. That isn't much considering last April we had extremely low levels of inventory. The time it's taking homes to sell, that's down close to 22% compared to last April.  And the amount of homes sold that's up close to 30% compared to last April.  Median prices are up over 10% compared to last year at this time.  The market remains extremely strong for sellers, so my advice to sellers if you are considering selling your home, this is a great time to take advantage of strong buyer demand.  However, as a seller, if you're thinking "hey you know the market's so strong do I really need to prep? Do I really need to make sure that my home is ready for sale?" Well we've seen homes out there sell for anywhere from $20,000 over up to over $150,000 over.  So this, in our opinion, is certainly a great time!  Don't skimp on prepping your home for sale because this is the time when you can really take advantage of strong buyer demand and the more interest that you have in your home the stronger offers will come in and the more money you will net. For buyers out there, unfortunately there doesn't seem like a lot of relief out there.   However, a lot of our buyers have had great luck with the strategies that we are using to get home offers accepted.  So if you are considering a move in or out of the suburbs north of Boston feel free to give us a call at 617-275-3379.

Curious about the numbers for your area?  Click the link for your town!

Andover, North Andover, North Reading, Reading, Wakefield and Stoneham

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