At the beginning of each month, we take a look back at the previous month's figures for a snapshot of the local housing market activity - how many homes sold, how quickly homes went pending, and what happened to list and sale prices. Over time these numbers help us to understand the trends in the marketplace which can guide us when working with buyers and sellers. By comparing the figures year to year we hope to eliminate any seasonal changes and get a true indication of the way the market is moving.
December continued the buck the trend of previous years and gave us a much busier housing market than might be expected at this time of year. But as we know by now, 2020 was the year we came to expect the unexpected. Home sales remained strong right to the end of the month and market volume was up significantly across the board. Prices have continued to increase, and Melrose, Lincoln and Westford saw an over 30% increase in average list price over Dec 2019. Sold prices were up over 20% compared to last year in Acton and Carlisle as well. The market is still very fast-paced - days to offer and days to market were down in all our core towns. In fact, the average time on market was halved in Acton, Bedford, Carlisle, Lexington and Winchester compared to the previous year. Typically a quieter month, this December saw the number of homes sold increase year over year by more than 50% in Concord, Lincoln and Westford.
Thinking of selling your home? Winter could be a good time for you to make a move. Reach out to one of our experienced agents for a more detailed analysis of what these numbers mean for your own particular situation.