Welcome to our monthly real estate market update for the suburbs north of Boston! Here's a look at the numbers from July 2021 compared to July of 2020 for single-family homes multi-family homes and condominiums in Middlesex and Essex counties. The amount hasn't changed and remained relatively flat. Inventory levels, the amount of homes available for sale, that went down by about 21%. Days on market also went down by about 38%. Median sales prices continue to be on the rise and are up close to 15.5%.
So what's been happening in the local market? Recently we did notice that some seasonality did come back to the local market as many people decided to take a long well-deserved vacation this year. Lately we've also seen some homes stay on the market a little bit longer.
For buyers out there, hot properties are still going for well over asking. For sellers out there, we have seen a rapid acceleration of prices lately. But if you challenge the market too much buyers may decide not to put an offer in your home and that home may stay in the market longer thus turning into an opportunity for buyers.
If you are considering a move to the suburbs north of Boston give us a call at 617-275-3379.
Curious about the numbers for your area? Click the link for your town!