The HOT Real Estate Market in Middlesex County

The hot and rising real estate market

From the MLS Marketwatch Report for Q1 2017

The real estate market here in Middlesex County, as it has been all over Massachusetts, has been hot. How hot? Well, Middlesex County in Q1:17 was on fire.

Home sales were up for the majority of the counties in Massachusetts in the first quarter. Sales were very strong for communities in Middlesex County with our local area seeing healthy sales and a robust jump in prices.

Overall, in Q1:

  • Middlesex came in 3rd for median home sales at $487,000 up 10.5% from a year ago. We followed Berkshire County which saw a huge increase of 30.1% in median sales coming in at $166K , and Barnstable County which jumped 14.3% to $360K for median sales.

  • The percent of original price received was in second place for the State at 97.5%. A strong showing and just behind Suffolk County which received 97.6% of the original price listed.

  • Middlesex county led the way with number of closed sales in the first quarter of 2017 with 1,699 transactions, with Worcester county following at 1,413 and Essex county at 1,060 transactions.

  • Months supply, which shows amount of available inventory, was at 1.5, down 31.8% from Q1 of 2016 which clearly illustrates the seller’s market.

With the number of houses receiving multiple bids this spring over asking price, it will be interesting to see Q2 numbers.

Here’s a snapshot of Q1 2017 (January – March) sales figures for some of our surrounding towns, and the percent change from the same time in Q1 2016. We will be be doing a similar blog post once the second quarter numbers are released:

With inventory remaining low throughout the second quarter and demand still strong entering into the third quarter we don’t see this abating any time soon. It is still very much a Seller’s Market. Let us help you discover untapped equity in your home with a CMA. You may decide its time to make a move! Contact Diane, Sheri or Lynn today!

#newhome #Homeowners #realestate #realestatemarket

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