The trends we saw in the first quarter of 2020 continue, with inventory levels way down, contributing to low overall sales. In fact, inventory levels in most towns featured were down 40-50% at June 30, with levels in Medfield down a whopping 73%! Median sales prices stayed strong, with prices 6% higher than a year ago for Middlesex County and up almost 3% for Norfolk County. The strong sellers’ market in the Greater Boston area continues.
There was a bit of a delayed spring market, which began when people began to feel more comfortable going out and things began to open up in Massachusetts. While normally the market begins to heat up in March, and continues through April and May, this year we saw that delayed by Covid-19. There was more activity later this spring, beginning later in May and into June. Average days on market in most areas continue to be low…agents are doing showings for a period of days, and offers are often expected within a week or less of listing date. Multiple offers are not uncommon.
Now is a great time to list your house for sale. In many cases open houses are done as scheduled blocks of times for showings by appointment, instead of the traditional open house where anyone and everyone is allowed to wander through a home. Agents are limiting the number of prospective buyers in a home at one time; masks are required, often gloves. If you have been thinking of selling, but are unsure about the current environment with Covid-19, give me a call and we can discuss.