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Quick Single Family Homes Market Snapshot of January And February 2015 vs 2016 in Reading, North Reading and Lynnfield MA

Quick Market Snapshot Comparison between January & February 2015 and 2016 - 3 Towns North of Boston: Reading, North Reading, Lynnfield

I'm interested in seeing what the entre first quarter of 2016 looks like in comparison (when the data comes out next month!), however, here is a quick comparison of first two months of single family home sales in Reading, North Reading and Lynnfield Massachusetts in 2015 and 2016.

 

January & February 2015

Number of Sales: 59

Average List Price Per Square Foot:  $251

Average Sale Price Per Square Foot: $245

Average Sale Price: $508,370

Average Days Until Offer: 60

 

January & February 2016

Number of Sales: 44

Average List Price Per Square Foot:  $248

Average Sale Price Per Square Foot: $243

Average Sale Price: $519,958

Average Days Until Offer: 47

 

What does this tell us, even if there is not a significant piece of data that "wows" us? Well, inventory is LOW and days on market are LOW.

If you recall, the winter of 2014 / 2015 was not a fantastic time for a homeowner to put your home on the market, unless you were shoveling out prospective buyers' driveways and chauffeuring them in a snowcat to your home!

Winter of 2016 was mild, the "perfect" winter to list your home if you couldn't wait until spring. But it saw less homes on the market than 2015.

So, what does this mean for the spring of 2016 if you are looking for a home in these towns? Inventory will be low, get yourself a very good buyer's agent who can guide you through, understand the market, and be ready to offer!

For more information regarding purchasing a home north of Boston, contact:

Paul Santucci

President of Residential Sales, True North Realty

617.694.0004

 

6 Pomeroy Road, North Reading. Listed at just above the average sales price of homes in this market