Throughout the year we take a monthly 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.
January has gotten 2021 off to a steady start. It’s not typically a busy month, nevertheless many towns reported an increase in the number of homes sold compared to Jan 2020, with Acton and Winchester showing a double figure % increase, and Arlington nearly doubling the number of homes sold. List prices increased year over year in Concord and Lexington, and sale prices were also higher than 2020 in Lincoln and Melrose. With inventory still low, demand continues to be high, resulting in much faster transactions as days to offer and days on market continue to drop. In Arlington and Westford homes received an accepted offer in under 20 days on average, and closings in less than 30 days were the average in Acton and Melrose.
In this fast-paced environment, it is vital to work with an experienced and knowledgeable agent who can help you navigate this marketplace to secure your dream home. Contact a Barrett Sotheby’s International Realty agent today for a more detailed analysis of the market in your area.
Getting ready to move? Consider attending one of our complimentary virtual seminars this month, with tips from the experts on downsizing and preparing your home for sale. Seminars take place on Saturdays at 10:30am - email us at email@example.com to register.