Here’s what’s been happening in the real estate market in Arlington MA for the past year.
The black line shows the median home sales price. This is the point where half of the homes sold in the city are higher and half of the sale prices are lower. Overall, prices have had an upward trend but there have certainly been dips during the year. We’re in the midst of another one now.
The orange lines shows you the average days on the market. What’s surprising to see is that it took twice as long to sell a house last spring versus the time it takes to sell a house now. Historically spring is the best time to sell a house, but this year a closing in the beginning of September gave the best sales price with the least amount of time on the market. In order for a house to close in September, it would have gone under agreement over the summer. This is unusual since normally we see a slow down in sales over the summer.
These statistics follow the same trends we’ve been seeing for awhile. We haven’t had a “typical” real estate market for the last 5 years. I continue to say that the best time to make a move is when it’s right for you and your family.