Market Overview: August 2020
Comparing the first half of last year to this year shows that there are 18.6% fewer homes sold this year in Greater Boston. Sellers who put their property on the market now are taking advantage of the shortage of supply and the increased demand. What are consumers looking for most? Outdoor space, a private office, and “room to swing a cat” between neighbors top the wish lists of today’s buyers who are itching to buy with 30-year interest rates less than 3%,” reports Leading Edge CEO Linda O’Koniewski. She adds proudly, “We were tickled to learn we are outpacing the market. Leading Edge is down just a handful of sales compared to last year, just one percent. Strong, smart agents can get the job done safely and with terrific results for their clients.
July sales of single-family homes in the Leading Edge service area decreased -15.1% year-over-year. Inventory decreased -35%. The number of days on market over the last 12 months increased +5.7% while median sale prices remain up +4.4% at $650,054.