Spring into February!
To say that this has been a mild winter would be putting it lightly. The warm weather is coming and with it, an even warmer real estate market may emerge. It should come as no surprise that the spring is one of the strongest times to buy or sell a home. But what are the actual numbers of sales and how long does this process usually take? Below is a chart reflecting the number of sold houses through the first six weeks of the year for the past few years in Newton in(with the exception of this year as I only have data up to today).
Jan 1st - Feb 15 2017 33 Jan 1st - Feb 15 2018 46 Jan 1st - Feb 15 2019 37 Jan 1st - Feb 13 2020 42 The start of the year is tracking well and shows the promise of a warm market this coming spring. 42 homes have sold in 2020 to date with the average days to offer (DTO) at 49 and average days on the market (DOM) at 59. Below is clear numerical data showing what the Newton market is poised to do over the next several weeks. Mar 1st - Apr 30 2017 80 Mar 1st - Apr 30 2018 51 Mar 1st - Apr 30 2019 83 Mar 1st - Apr 30 2020 ?
Newton Condos Sold Mar 1st - Apr 30 2017 56 Mar 1st - Apr 30 2018 41 Mar 1st - Apr 30 2019 45 Mar 1st - Apr 30 2020 ? The months of March and April in 2019 had an average DTO of 17 and DOM of 35 for single family homes. Condominiums during the same time frame moved faster with an average DTO of 13 and DOM at 26. The real estate market will warm up with the weather. So between Friday night basketball games and ski weekends, the time to start preparing is now. I can help find your new home in Newton or the greater Boston area and or sell your existing one! Send me a message to strategize your best options so I can provide you with the best results. Just keep in mind that the snow may still surprise us over the next few months!