The sales stats for June in our key towns are rather a mixed bag - not something that makes us marketers happy. We are looking for some really decisive numbers so we can put together a compelling story. At first glance, June's numbers don't give us much to write about - no big jumps or drops in list price or sale price to report. But if you consider where we have come from, these numbers do actually tell a story, and it's a very positive one.
The sales that completed in June would mostly have been homes that came to market around 2 months ago, i.e. right in the middle of the pandemic. Cast your mind back to early April, when no-one was leaving their home and regular life had pretty much ground to a halt, and you can appreciate that the fact these numbers are not showing any huge changes is really remarkable. Despite everything that our people and towns have been through over the past few months, house prices have remained steady, even increasing in some towns (looking at you Melrose and Woburn).
The one change you will notice is that the number of homes sold has decreased, which given the circumstances is to be expected. However the month on month numbers show that this is steadily increasing, and with the new listings and sales we know are coming up this month we expect this to continue.
There is always one exception when it comes to stats, and this month it's Melrose. Melrose is leading the charge for recovery, posting increases in sale prices for the past two months. Demand is high for Melrose, and this month the total number of homes sold and dollar volume for sales showed an increase year over year, which demonstrates the strength of the market here. If you want to find out why Melrose has remained popular, read our neighborhood blog.
While these numbers reflect sales for the past month (which represents activity in April / May), we can also look at the listings taken in June and what has happened to them. Check back here for our next blog to see what story those numbers will tell us.