Market Report: Suffolk, MA – 10/26

Q: Are prices rising?

A: In Suffolk County, the median list price for new pending listings is $797,000, and the median sold price is $737,500, reflecting a 23.58% month-over-month decrease. However, the sold-to-list price ratio remains strong at 98.87%.

Q: How’s the inventory looking?

A: The area has a 2.98-month supply of inventory, which is a 27.9% increase from last month, indicating a growing selection for buyers. Over the past year, inventory has seen a modest increase of 1.02%.

Q: Are homes selling quickly?

A: Homes in Suffolk County are moving relatively fast with a median of 13 days in RPR for sold listings, and new pending listings are even quicker at 8 days. This suggests a dynamic market where timing is crucial for both buying and selling.

Q: What should we expect in terms of new listings?

A: With 191 new listings at a median list price of $899,000, buyers have fresh options to consider, while sellers can prepare for competitive pricing. This vibrant market condition offers a unique opportunity for those navigating both buying and selling.

From the historic charm of Boston Common to the bustling energy of downtown, Suffolk County offers a rich tapestry of attractions and conveniences. For a tailored strategy in this active market, connect with John Miro at CENTURY 21 North East by emailing john@mirorealtor.com.