Understanding the Trends that Matter to You
Breaking Down the Numbers
Let's take a closer look at the real estate metrics that are shaping the West Bridgewater market.
Seller's Market in Full Swing
The Months Supply of Inventory is just 1.15, indicating a seller's market where demand outpaces supply. With fewer homes available, buyers are facing stiff competition.
Inventory Levels Continue to Drop
Over the past 12 months, the Months Supply of Inventory has decreased by 0.53%. This decline suggests that even fewer homes are coming onto the market, fueling an already competitive landscape.
Homes Selling Fast
With a Median Days Homes on the Market of just 14, homes are flying off the market quickly. This fast pace is likely due to high demand and low inventory levels.
Multiple Offers Are the Norm
The Sold to List Price Percentage is a notable 1.06%. This indicates that homes are often selling for well above the listing price. This could be a result of multiple offers or bidding wars, where buyers are willing to pay more to secure their dream home.
Higher Prices Mean Affluence
The Median Sold Price is a substantial $688,776, painting a picture of an affluent market with high-end properties. This suggests that West Bridgewater is an attractive location for those seeking luxury living.
Conclusion
In summary, these metrics highlight a competitive real estate market in West Bridgewater, characterized by low inventory, high demand, and homes selling quickly for above asking price.
Ready to navigate this market with confidence? Reach out to me today to learn more about your options and make informed decisions.
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