Here’s a look at the north of Boston real estate market specifically Middlesex and Essex counties comparing January of 2022 to January of 2021. Overall inventory is actually lower than it was last January and down close to 36%. The total number of homes sold is also down about 14 %, most likely because of low inventory levels. Days on market, the time it's taking homes to sell, that's down about 13.5%. Lastly, median sales prices are still on the rise and up close to 7.5%. If you're thinking about selling a home in 2022 my suggestion is sooner is better than later. We've been talking about low inventory levels for a while now, but they're even lower than they were last year. Many towns have maybe have just a few homes on the market. So chances are if you're thinking about selling your home you can come on the market with virtually no competition and lots of buyers. The spring market has already started! If you're considering buying a home my advice is to start your search now as interest rates may be on the rise this year and predicted to go up to 4% by year's end. If you are considering moving in or out of 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!