As we head towards the holidays we expect to see less activity in the housing market, and that is reflected in the latest sold stats for the month of November. As has been the trend in the last few months, homes are staying on the market a little longer – Days on Market figures are now in the 20’s in Acton and Lexington, up on the same period last year. However, prices still remain buoyant and in Westford and Bedford sold prices are up 20% or more compared to November 2021. And although we are not experiencing the crazy bidding wars of earlier this year, homes are still selling on average over the list price in all our towns. Good news for sellers, indicating that demand is as strong as ever for these popular towns north of Boston.
While buyers have been getting a break on the pace and the pricing of the market, inventory is still an issue. In Lincoln, 50% fewer homes sold this November compared to last year, and market volume was down by over 40% in Concord. As always there are exceptions – Winchester saw a 14% increase in both number of homes sold and market volume, and has over 60% more active listings as of December 1st. December is traditionally a very quiet month for listings so we will watch closely to see how these numbers change.
If you are planning a move for next year, now is the time to start talking to an experienced agent. While no one can predict exactly how the market will behave next spring, our agents are continually monitoring the activity in the towns and communities they serve and can advise you on the best plan to price, market and sell your home. Get in touch today to be best prepared for whatever the new year may bring.