“Bidding wars are coming back,” said Linda O’Koniewski, CEO, Leading Edge. “While the market softened in the last half of 2019, low inventory remains a challenge, and as long as mortgage rates stay low, I expect sellers to continue to be in the driver’s seat. Buyers face increased competition in many pockets. Hot neighborhoods like Melrose and Arlington are already experiencing this uptick in competitive offers and we haven’t even hit the busy season yet. If you’re thinking of selling, now is the time to begin preparing your home for the Spring market. Trash day and recycling day are holidays for those who need to declutter.”
December sales of single-family homes in the Leading Edge service area increased +10.3% year-over-year. Inventory decreased -34.8%. The number of days on market over the last 12 months increased +12.1% while median sale prices remain up +2.3% at $633,000.