2019 Spring Market Update

A rainy April has come and gone, and now we’re half way through May. Let’s take a quick look at the spring real estate market for the state of Massachusetts...

Pricing

Single-family: Median prices for single family homes have risen 2% since last year to $395,000.Condominiums: Median prices for condos have decreased by less than 1% to $375,000.

Sales

Single-family: Pending single-family sales are up 14% from last year to over 6,400 homes in the month of April.Condominiums: Pending condo sales have risen 11% to 2,500 for the month of April.

What does this all mean?

The Spring market is strong once again, but it's a bit more reasonable. Homes are selling relatively quick, with an average of just over 30 days to offer. Multiple offers are common, but 25% of realtors are reporting that their listings did not have multiple offers. Overall pricing is steady. This signals that the market is strong, but not irrational as it has been in the past, which is great for buyers and still good for sellers.In summary, it's a typical busy Spring market! Curious to chat about what this means for you and your home's value? We're always here to help!