Barrett Sotheby's International Realty Logo
800-898-5111

Back To Blog

Housing Market Update - July Sales Stats

July 2023 Sale Price as a % of List PriceThe summer housing market typically moves at a slower pace after the frenzy of spring market, and before business picks up again in the fall. However, we saw a similar number of homes sold in July as during the spring months, an indication perhaps of a slower than average spring rather than a busier summer where limited inventory continues to have an impact. As far as other market indicators go, there really is no clear-cut trend across all our office towns. Average prices have increased year over year in some towns (up 25% in Bedford) and decreased in others (down 10% in Lexington). Days on market dropped to an average of 16 in Concord, and increased to 34 in Winchester. What is consistent across the board is the lack of inventory – there are fewer single-family homes on the market than last August. The number of available listings (single family and condos) dropped by around 40% in Acton, Westford and Winchester. Another trend across all our office towns is the sale price to list price ratio. Throughout this year we’ve seen average sale prices track consistently above list prices, and July was no exception. Homes sold for an average of 7% over list price in Acton and Concord, 6% over in Bedford, 5% over in Lexington, 3% over in Lincoln and Westford and 1% in Winchester. This despite the warnings of house prices falling throughout the spring. This combination of limited inventory and increased pricing is good news for sellers, particularly as we head into the next busy phase for real estate – the fall. If you want to get ahead of the curve, talk to one of our experienced agents today and find out how much your home is worth. For buyers, the competitive marketplace looks set to continue – although not as fast paced as last year. Get yourself prepared – read our blog on Buyer Mistakes to Avoid to put yourself in the best position to secure your dream home.

Acton Market Update Bedford Market Update

 

 

 

 

 

 

 

 

 

Concord Market Update Lexington Market Update

 

 

 

 

 

 

 

 

 

Lincoln Market Update Westford Market Update

 

 

 

 

 

 

 

 

 

Winchester Market Update

 

 

 

 

 

 

 

 

 

If you have any questions about these numbers, please get in touch - we'd be happy to discuss in detail how the market trends affect your buyer or selling plans. 

    Add Comment

    Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

    Comments

    1. No comments. Be the first to comment.