What happened since last year?
People feel a market frenzy, and shocking pricing. How does this show up in the statistics?
The number of single families sold year to date is up 55.7%.
The days on market is down 55.6%.
The number of new listings is up 41.2%.
And sales prices are up 16.3%.
These all say more sales, happening faster, at higher prices. People are really feeling the market in the “prices over asking”. How much are people paying above the asking price of homes in order to win the bidding war?
On average in 2021, year to date through May, people paid 5.1% over the asking price, up from an average of “at asking” for 2020.
Here are some sales stats from Medford in May. Median price and days on market can be “economic indicators,” but they aren’t a professional way to make a well-informed real estate decision. Contact us to find the relevant data that you need to move you forward.
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If you are ready to find *the one*, or to start laying out your housing goals, let’s connect and get you moving forward.
Beacon Group Real Estate – Keri Liu | David Gordon | Stephanie Ford | Wayne Godfrey | 617.930.4500
Data retrieved from MLS