The market has changed

Lawrence Yun the chief economist for the National Association of REALTORS just wrote an article about the current housing market compared to last year's.

Homes have been sitting on market by roughly 5 additional days this year compared to last year, averaging nationwide. In July, the median days-on-market was 28 days from listing to the signing of the ratified contract. Last year, the figure was 24 days. 

As homes linger for a longer period a larger price discount is needed to attract buyers. Or the home has to be priced more closely to the market from the get-go. 

As expected the homes sitting on market for 2 or 3 months or longer are slashing the prices to get to the closing table.

Reach out to me for your real estate needs either by email at buyorsellincentralmass@gmail.com or text me at 508-281-2180.

~Michele