This July, the real estate market north of Boston has been busier than expected, continuing the momentum from the spring season. The typical summer slowdown has not yet transpired, with increases in sales and listings compared to the same period last year. But what's the story in your neighborhood - is summer a good time to list your home, or will buyers pause their search? Let’s take a deeper dive into those numbers for the towns along the Patriots Trail and beyond.
Surge in Home Sales and Prices
The number of homes sold in July has generally increased compared to 2023, with sales up by almost 25% in Concord and Westford. This surge highlights the strong demand and the area's continued allure for buyers. Furthermore, sale prices have risen across all our office towns, underscoring the enduring appeal of these communities for buyers. Lexington, Bedford and Winchester have all seen double digit percentage increases in sale price, a testament to their reputation as desirable places to live north of Boston.
Quick Turnaround and Competitive Offers
Speed is still of the essence when searching for a home in this area. Homes in Acton and Arlington are moving exceptionally quickly, with days to offer averaging just about a week. This rapid turnaround time indicates that buyers are eager and prepared to make swift decisions. The continued trend of homes selling for 3-5% over the list price further emphasizes the competitive nature of the market. With more buyers than available homes, this dynamic ensures that prices remain buoyant and competition stays strong.
Looking Ahead: An Active Market
As we move into the latter part of the summer, the market remains vibrant and active. The number of active listings is up compared to August 2023, providing more opportunities for those eager to find their dream homes. However, serious buyers should not delay their search, as demand continues to outpace supply. Now is the perfect time to connect with one of our experienced agents who can provide expert guidance and local insights to help navigate this dynamic market.
Whether you're looking to buy or sell, our team is ready to assist you in making informed decisions. Find out what your home is worth or get in touch to learn about the buying process.
