Welcome to our monthly market update! We're taking a look at single family homes sold specifically in Middlesex and Essex counties for the suburbs north of Boston and comparing July of 2022 with July of 2021. The total number of active properties dropped about 11.5% and the total number of homes sold also dropped about 14.5%. Days on market, the time it has taken homes to sell, slightly changed from 21 days down to 20. Median sales prices continue to be on the rise and went from $700,000 up to $750,000, an increase of $50,000 or 7%.
Many people are asking about the status of the market. It has definitely slowed down since the COVID surge! This market resembles a lot to what we saw before COVID, which back then was still healthy seller's market. However, today buyers are getting offers accepted with contingencies, fewer homes are selling with multiple offers, and many buyers are purchasing their home without having to go 50-100k over asking price! If you're considering a move 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!