The February data reveals a varied picture in the housing market. While some towns like Bedford and Lexington experienced notable increases in sales compared to the previous year, others such as Acton and Concord saw declines in home transactions. Prices surged by 30% or more in Bedford and Lexington, while experiencing slight drops in Winchester and Lincoln. Concord and Winchester witnessed faster sale times compared to 2023, whereas Acton homes took twice as long to secure an accepted offer.
One consistent aspect across these towns is the list price to sale price ratio, indicating the premium paid on these properties. Across our office towns, average sale prices exceeded list prices by 1 to 7%. Demand remains robust and, combined with a scarcity of inventory, continues to drive prices upward. However, the dynamics might be shifting, with an increase in the number of homes on the market compared to the previous year. As of March 1st, Acton and Winchester had nearly 50% more homes for sale compared to the previous spring. If you're contemplating selling your home don't wait - contact us today to learn how to capitalize on the strong prices before supply catches up with demand.
