2020 Spring Market Data
Last week, we compared March 2019 sales to March 2020 sales, remembering that 2020 sales could not take into consideration the full effect of our current circumstances. (If you missed it, click here.)
This week, we compare the number of properties that were for sale in the MLS last year on April 10, 2019 to those for sale today, April 10, 2020.
Under typical circumstances, our analysis would be specific to homes in one neighborhood: by town/street/price range/water front/water view etc. But because the current “stay home” circumstances effect us all, we painted broad strokes that include all the activity and price ranges in Rockport, Gloucester, Manchester, Essex and Beverly.
If we weren’t all house-bound, the statistics might indicate:
- “Inventory is down 38%! Seller’s market!”.
- “The median ask price on houses is up 10%! The market is appreciating!”
- “Condo days on market are down 11%. They’re selling quickly!”.
But we are still house-bound. Our all encompassing, “current circumstances” will continue to completely effect almost everyone’s behavior and have an enormous impact on everyone’s ability to buy or sell anything, especially a home.
So we’re still not suggesting that you buy or sell your property at this time. Talk about it? Sure. Zoom or conference call possible scenarios? Sure. Make plans with flexible dates? Absolutely.
But until this breaks and we’re back to so-called normal, we urge you to sit back, hold on and be patient. If we all do that now, our “current circumstances” will pass sooner rathr than later.
We hope this helps.