September 2020 Housing Report

 

“Decisions on where to move have been greatly impacted by the Work From Home (WFH) trend,” reports Linda O’Koniewski, CEO, Leading Edge. “Today’s buyers are looking for good office space and more outdoor space. Second homes are becoming primary residences. Water, pools, and beautiful views are in high demand. The number of bedrooms have always been a big factor in marketing a home, but today we are seeing four bedroom homes advertised as three bedrooms with an office. City dwelling has lost a little of its luster, but will rebound when the pandemic is under control. Virtual college classes have adversely impacted rental prices near schools. And finally, folks are looking to heat their porches, balconies and patios as we approach the first full Covid winter in New England.”

 

August sales of single-family homes in the Leading Edge service area decreased -15.1% yearover- year. Inventory decreased -32.3%. The number of days on market over the last 12 months increased 0% while median sale prices remain up +5.4% at $659,000.