Market Summary

“Inventory is becoming cyclical.  In some towns and neighborhoods it comes on before the weekend and is snapped up in less than a week.  We saw zero inventory for single family homes in Arlington for the first time.  Nada. Donuts,” reports Linda O’Koniewski, CEO of RE/MAX Leading Edge.  Real estate is hyper local and buyers are super savvy, they know when a home is not worth the asking price.  So the key is to hit the price on the mark that appeals to the most buyers.  High-end luxury property is still taking longer to sell, but homeowners who offer a terrific package and value are attracting high-net worth buyers faster than we’ve seen in other strong markets.”

March sales of combined condo and single-family homes in Massachusetts increased +1% year-over-year.  Inventory remains down -31.1% and the number of days on market is also down -24.7%.  Median sale prices remain up +7.4% while pending sales are up +12.9%.