State of the Market - Suffolk County (Boston) MA
The Q4 2017 numbers are out and they confirm what a lot of us already knew. The Boston market is still a WILD seller's market and there is still a severe shortage of inventory.
If you have a property that you're considering selling, this looks like a GREAT time to do it.
Here are the highlights:
- Average sales price across all properties is up 23.7% over 1 year ago.
- The number of homes for sale is down an astonishing 42.2%.
- The number of "months supply" is a breathtaking 0.9 months.
(0-6 months is a seller's market. 6-7 months is at equilibrium, 7 months+ is a buyer's market) - Average Days on Market is 41 days, down 6.6%. That's pretty impressive, considering that most lenders need 30-45 days from P&S to close - and DOM is calculated from listing date to close date!
