Sellers Are Celebrating
The Q2 real estate market in Massachusetts had another great quarter which has Sellers celebrating and leaving Buyers frustrated. Middlesex county sales remained strong after a very busy Q1 – with nearly twice the number of transactions closing during Q2 and an average selling price rising to 100% + of list price.
We shared the Q1 numbers as reported in MLS’ Marketwatch Report last month. Here is a comparison of the market in Middlesex county, and more specifically, in the Greater Winchester/Woburn areas.
Overall, in Q2:
Middlesex county came in 4th for median home sales increases this quarter, compared to 3rd place in Q1. Median sales rose from $487,000 up 10.5% from a year ago to $549,450 up 7.7% from Q2:16. Quarter to quarter, showed a very healthy jump in median sales prices.
The percent of original price received to sales price came in second place again for Q2 at 100.7%, compared to second place at 97.5% in Q1. A strong showing and just behind Suffolk County with sales price at 101.0% of the original price listed.
Middlesex county led the way with number of closed sales again in the second quarter of 2017 with 3,083 compared to 1,699 transactions in Q1. Worcester county followed in second place again this quarter and Norfolk was in third place in Q2.
Months supply, which shows amount of available inventory, was at 2.0, down 26.9% from Q2 of 2016 which clearly illustrates the seller’s market. Q1 had inventory of 1.5.
Here’s a snapshot of Q2 2017 (April – June) sales figures for some of our surrounding towns, and the percent change from the same time in Q2 2016. We will be doing a similar blog post once the third 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 trend subsiding any time soon. It is still very much a Seller’s Market.
Let Plunkett Properties help you discover untapped equity in your home with a CMA. You may decide it’s time to make a move! Contact Diane, Sheri or Lynn today!