Summer is in full swing, and typically we would see a slow down in the housing market as people take a break from their regular routine to enjoy the slower pace of life. However, as we've said before, there is nothing typical about this year. July saw an increase in market volume compared to July 2020, which itself was a busier than usual month as the stalled spring market of 2020 resulted in a hive of activity this time last year. Lincoln saw a staggering 201% increase in total sales volume compared to July 2020. This increase in volume was driven partly by the increase in sales prices year over year - average sale price was up more than 30% in Acton, Concord and Winchester, and by over 40% in Lexington. The market still continues to move at a fast pace, with days on market halving in Bedford, Carlisle and Westford. August may see a return to a more seasonally-typical market - active listings at the start of this month are below August 2020, but in line with what we would expect in a more regular year. However, with inventory low and demand still high, there may be rewards for sellers who are ready to make a move and list their home before the fall rush.
If you would like more detailed information about the market in your neighborhood, speak to one of our experienced agents. Their knowledge of the local marketplace, combined with our world-class marketing, will put you in the best position to maximize the value of your home.
If you are considering a move this fall, check back for our next blog - Ways to Prepare Your Home for Fall Market.