Welcome to our monthly market update! We're taking a look at single family homes sold in Middlesex and Essex counties and we're comparing April of 2023 to April of 2022. So the total number of active properties dropped by about 19%. Because there is very little inventory out there, the total number of homes sold also dropped by about 25%. Days on market, or the time it's taking homes to sell went from 23 days on average up to 31, an increase of 35%. And median sales prices went from $740,000 down to $720,000, a decrease of about 3%.
now don't let those stats fool you! Despite what the experts predicted in the fall, the spring market right now is red hot! We've seen buyers competing against 10, 20, and even 40 other offers. So home sellers right now are not only getting top dollar, but also commanding terms. So if you are thinking about getting your home sold, now is an opportune time. And for home buyers out there, it is certainly a challenging market, but the highest price doesn't always win! So if you're thinking about making a move in or out of the suburbs North of Boston and want to learn how to get top dollar for your home or how to get an offer accepted, 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, Stoneham, and Wakefield