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:
President of Residential Sales, True North Realty
6 Pomeroy Road, North Reading. Listed at just above the average sales price of homes in this market