Summer is in full swing and the housing market has slowed a little as we expect at this time of year. Compared to last July, when we were still in the post-Covid boom, the number of listings sold has decreased – by more than half in Bedford, Carlisle and Lincoln. However when you compare those numbers to sales in June, we actually saw increases in activity in Acton, Lexington and Westford – a result of the busy May and June for listings. As far as the rest of the numbers go it’s business as usual, with few signs of the market collapse predicted by some. Average sold prices are up year on year across all our towns – as much as 14% higher than 2021 figures in Westford and Winchester. Days to offer and days on market are down compared to July 2021, demonstrating yet again that demand still outstrips supply in the towns north of Boston. The median house price – another solid indicator of how prices are moving – has increased by more than 20% from the previous July in Lexington, Lincoln and Winchester. On average, homes are still selling for more than the list price – by more than 10% in Acton, Carlisle, Lexington and Lincoln.
In some good news for buyers, the number of homes on the market is increasing, even in a quieter month. In almost all our office towns there were more homes for sale on August 1st, 2022 than at the same point last year, and the number of available homes had more than doubled in Acton, Lexington and Winchester. So while prices remain high, buyers will have more options available when it comes to choosing a home.
As always, these numbers are very top-level, and for a more in-depth analysis you should speak to a trusted professional. Barrett Sotheby’s International Realty agents are experts in the towns and communities they live and work in, and are able to give you a more accurate picture of what your home is worth in the current marketplace. They can also advice you on any minor repairs, renovations or improvements necessary to ensure you get the maximum potential value for your home, and even discuss options to buy before you sell. Contact us today to set up a time to talk this month so you are prepared for the fall market.