Whatever you might have heard about the winter months meaning a slow housing market, December 2021 actually saw many increases on the previous year. Prices continue to climb and were up by over 30% on 2020 in Concord and Carlisle. Even with list prices above 2020 levels, sales prices also increased - for example, homes in Lexington sold for an average of 7% over the original price. Despite the limited inventory, Winchester actually saw a 10% increase in the number of homes sold compared to December last year. Even during the busy holiday season, homes didn’t stay on the market for long – days on market were down by more than a third in Acton, Lincoln and Westford. Overall, market volume increased in all but two of our towns, a reflection no doubt of the increased prices rather than a greater inventory.
Which brings us to the elephant in the room – the lack of homes for sale. Although you would not typically see a large number of new listings hit the market at the start of January, the situation this year is extreme. As of January 4th, Bedford had only 2 single family homes for sale, Lincoln and Winchester had just one, and Acton had zero single family listings. As a seller, there could not be a better indication that now is a good time to list, as the forces of supply and demand will ensure you can get the maximum value for your home. There are other reasons why now is a good time to list your home. Predicted interest rate rises later this spring could dampen buyers ability to keep offering these higher prices. As the weather improves, and hopefully the pandemic impact lessens, more people will decide to list their homes, increasing options for buyers. By listing your home now you can take advantage of the low inventory, sustained demand and better rates on borrowing. Get in touch to find out what your home is worth in today's market.
If that all sounds good, but you’re worried about where you are going to move to, our exclusive programs such as Buy Before You Sell can help you secure the sale of your own home while you continue to look for your next property. Speak to one of our experienced agents to find out more about how this program can get you moving this winter.