2019 Mid-Summer Market Update

2019 Mid-Summer Market Update

It’s August already… slow down summer! Let’s take a quick look at how the market performing, shall we? For this analysis we will be focusing on closed sales. Closings typically take 30-45 days, so July’s closings reflect June’s market activity, but nonetheless this will give you a market snapshot with the most up-to-date info we have available. Take a gander below, and if you’re curious about your home’s value, contact us for a free, no-pressure market study.

Closed Sales

June 2019: 8,055 total sales
July 2019: 7,914

June to July (i.e. May’s accepted offers vs June), saw total closed sales across the state drop about 1.7%. This is a fairly negligible change considering the market was transitioning from the typical spring sales rush into the summer, which tends to slow just a tad. In our opinion, a small decline like this is nothing to be concerned with, if anything we would’ve expected a bit more of a drop. The market is still chugging in terms of properties changing hands.

Average Days on Market

June 2019: 47
July 2019: 46

A very, very small drop in Days on Market. Homes are still selling at a consistently, quick pace.

Median Sale Price

June 2019: $440,000
July 2019: $433,000

The most important part… home values. July saw a small decrease of 1.6% in the Median Sale Price for homes and condos. Again, a minor blip. I’d expect that next month we could see a similar decrease as the summer progresses and some homes sit on the market for various reasons. Ultimately, most markets, especially ours south of Boston, are still very strong and home values are holding steady.