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Change is in the Air

Statistically, September always seems to provide a much needed boost to new home listings in the greater Boston area. For example, in Newton and Brookline there have been 270 new listings posted for sale since the start of this month, compared to only 88 in all of August. 

This comes as no surprise with a large portion of the area population taking vacations in August. But how does this year's September bump compare to prior years, and what does this mean for the market?

In north Brookline, the number of new listings has been consistent over the past several years as seen by the chart below. However, in Newton and Boston the number of new listings are up.

Sept. 1ST-27TH Brookline    Newton     Boston  2019           77              175             1056 2018            76              157              967 2017            79              156              876 2016            78              169              752  2015           79              151              772  2014           71              143             761

It's worth noting, the increase in Newton is specifically driven by a considerable uptick in condominium listings. In September 2018 there were only 36 new listings through the first 27 days, while in 2019 there have been 60 new condominium listings so far this month! 

Is the demand strong enough to absorb all these listings, or is this an early indicator that the red-hot seller's market is becoming more balanced? Some listings are moving as fast as we can post them while others that we thought would sell quickly are taking a little longer to generate interest. 

I predict the market will become more balanced as more homes come online. We will witness this as we follow the average days to receive an offer, and the average sale to list price of units being sold in the near future. In other words, now is a great time to start your search or prepare your property to be listed!


Best regards,

Ryan Cook Sales Agent @ Accent Realty Ryan@RyanCookRealty.com 617-744-9033 www.RyanCookRealty.com

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