But don't wait for an open house to see that home that you like. Many agents are not doing open houses because they have been getting very little response to them. Call your Buyer's Agent to make an appointment for you. This is even more important if there has been a recent price drop on the property, because that usually creates a plethora of activity, even in a slow market.
Here are some stats for the current real estate market on the north shore of Massachusetts.
Compared to this same day 1 year ago:
- There are 7364 properties on the market. Last year there were 6414.
- Time on market this year is 146 days, compared with 105 days last year.
- The median price is list $379,900 compared to $395,000 for 2005.
These stats are for a combined single, multi and condos.
Average sale price over the last 3 months was $408,537, compared with the same 3 month period last last of $403,369. Confusing, isn't it? First I tell you that the current on market prices are lower than last year, then I tell you that the last 3 months sale prices are higher that 2005! What' sgoing on?
Well , the key phase is that the sale prices were for the last 3 months, which included a pretty good sales period. It's only the last couple of months where we have seen wholesale dropping of prices, which is why the current list prices are lower than 2005's.