We took a snapshot of November home sales for single-family, condo, and multi-family properties in Medford for both 2018 and 2019, and here’s what the data reveals:
Home sales for single-families and condos dipped slightly in 2019 as compared to 2018 but multi-families saw a slight increase.
Across the board, single-families, condos and multi-families stayed on the market a bit longer, giving home buyers a little more breathing room. Condos saw the biggest jump in days on market from 2018 to 2019. It’s interesting that multi-families stayed on the market longer, whereas in Arlington the supply of multi-families was lower and they sold quicker.
Even though the number of listings was generally down and properties sat longer, average sale prices went up in 2019 vs. 2018.
Demand for properties in Medford remains strong and value continue to rise which is great news for home sellers. If you’re looking to buy in Medford, you’ll be pleased to know that inventory is slightly up and properties are staying on the market a little longer.
If you would like additional information, or if you would like to know more about buying or selling a home in Medford, contact us today.
Here is a snapshot view of the data above:
Single Family Sold Listings: 26 Avg. DOM: 29.96 Avg. Sale $: $641,715
Condominium Sold Listings: 20 Avg. DOM: 39.1 Avg. Sale $: $548,970
Multi Family Sold Listings: 7 Avg. DOM: 20.14 Avg. Sale $: $845,500
Single Family Sold Listings: 23 Avg. DOM: 35.17 Avg. Avg. Sale $: $679,087
Condominium Sold Listings: 16 Avg. DOM: 53.75 Avg. Sale $: $603,806
Multi Family Sold Listings: 9 Avg. DOM: 28.78 Avg. Sale $: $875,333