Yes, the spring market 2016 is certainly getting off to an active start! The trends we wrote about last week are continuing to pick up speed.
Circling back to all the data from last week, here’s a recap: As of February 21st, February saw 74 new listings in Concord, Sudbury, Carlisle, Lincoln, Weston, and Wayland. Of those, many had already accepted offers, though the percentage of new listings that had gone under varied drastically by town. In Carlisle, of the nine houses that had come on the market since February 1, 33% had gone under agreement. In Concord of 24 houses that had come on, 42% went under. In Lincoln, 66% of the three houses that came. In Sudbury, it was 31% of 13. In Wayland of the 10, 30% had accepted offers.
A week has passed.
37 houses have come on the market in our six subject towns. That’s a lot. Here’s the breakdown of what’s still on and what has accepted offers since the last update.
Carlisle: 2 more houses have come on bringing the total to 11, but still only 3 are under agreement so 27% have accepted offers.
Concord: 8 more houses have come on, bringing the total to 34 and of those 11 have accepted offers, so 32%
Lincoln: 2 more houses have come on bringing the total to 5 and still only two are under agreement, so 40%
Sudbury: 8 more houses have come on bringing the total to 22 and of those 8 are under agreement, so 36%
Wayland: 15 houses have come on since February 1, 6 new ones since last time. Last time, three were under agreement (sorry 3, not 10!) and one more of those, plus one brand-new listing totaling 5 of the 15, or 33% are under agreement.
Weston: 11 New listings have come on the market in the last 7 days, bringing the total for February to 21, of those 2 are under agreement which is 10%.
Interpretation: This is a very interesting and tidy data set – it’s the month of February, which has been, without question, the beginning of the spring season for the metro west market during recent mild winters. This is helpful for future spring market planning and also indicative of the season to come. It looks like demand is weaker in Weston, and higher in Lincoln than we may be accustomed to. SELLERS – Pay attention to your market, know your circumstances, and fine-tune your price at the last minute. BUYERS – know what you’re up against and know the conditions in your market. Questions? Reach out to us!