its been a busy summer in Real Estate, setting us up for a very active fall market. Continuing the wave from July, business did not let up in August. No summer break for our realtors - the number of new listings surpassed July’s number in Winchester, Arlington, Melrose and Medford, and accepted offers during the month also remained the same or increased. Homes are turning over quickly, and as a result there were fewer listings on the market by the end of the month than at the end of July. Prices also remained steady compared to the previous months.
So does this mean it’s a seller’s market? With inventory low and demand high well-priced homes in popular towns and cities like ours are moving extremely quickly. Plus with historically low interest rates we are seeing highly motivated buyers, from those looking to get out of renting and into homeownership, to those wanting to upsize and gain some more space for home working and schooling. If you have been thinking about making a move, talk to one of our experienced agents. They can give you a complimentary market analysis to establish the true value of your home, and advise you on the next steps to getting you into a new place this fall. Get in touch today.