The Massachusetts Association of Realtors (MAR) just released the latest stats for the end of Q2 and it makes very interesting reading for sellers. Across all of our offices we are seeing prices continuing to rise and days on market to fall as a result of the increased demand and limited inventory. In Acton so far this year, single-family homes are selling for an average of 109.5% of the list price, and in Carlisle, Lincoln and Lexington that number is around 104%. In all towns homes are selling on average over the asking price, compared to last year when single family homes sold for a little under the list price. Days on market have also dropped compared to the first six months of 2020 - Westford has an average of 19 days to sale, Bedford is 37 days and Winchester is 42 days. In Concord the average days on market has halved since June 2020. Available inventory continues to be an issue - as of the end of June there was less than one month’s supply of homes in Acton, Bedford and Westford. For more details on these towns and many others around us, read the full report here.
So for sellers the market still has many positive indicators, but things may be set to change this fall. With the foreclosure moratorium coming to an end in July, and both the mortgage forbearance program and pandemic unemployment assistance ending in September, many are predicting a change in the housing market in the coming months. If you are thinking about selling your home, don’t wait to see what will happen - talk to one of our experienced realtors to get a detailed analysis of the market in your area.
Already decided to sell? Check back for our tips on how to prep your home this summer to be ready for the busy fall market!