Welcome to our monthly real estate market update! We're taking a look at the North of Boston real estate market, specifically Middlesex and Essex counties, and comparing single-family homes that sold in May of 2023 to May of 2022. The total number of active properties fell 17%. The total number of homes sold also fell by about 27%. Days on market, or the time it's taking homes to sell went from 19 days on average up to 25, an increase of 32%. And median sales prices went from $760,000 up to $800,000 an increase of $40,000 or 5%.
It's certainly a complicated market. Prices are high. Demand is high. We're definitely still seeing multiple offers even though interest rates are also high, so if you're considering making 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!
Andover, North Andover, North Reading, Reading, Stoneham, and Wakefield
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