Today let’s turn our attention to Medford MA and check out what’s going on with single family homes sales in the city.
Prices have increased a bit in the last few months but the big news is the level of inventory (the orange line). Notice that in the winter there was a sharp decrease in the number of single family homes for sale in Medford. This is a very typical seasonal change. However, normally in March sellers start putting their properties on the market as the spring selling season begins. Here we are in May and the big rush of spring homes still hasn’t started. Combine this with the continuing low interest rates and we’ve got an explosive situation. Because of the shortage of homes for sale, properly priced home in Medford as selling very quickly. The last few homes I’ve sold in Medford have had multiple offers.
The real estate market is constantly changing so stay tuned to see what will happen with Medford houses next!