Market Trends: What You Need to Know
Introduction
The current real estate market in Brockton, Massachusetts, is a buyer’s challenge. With a Sold to List Price percentage of 101.9%, you can expect competition to be high.
Low Inventory, High Demand
The Months Supply of Inventory is currently at 0.94, an indication of a seller’s market. This low supply, paired with high demand, means you’ll need to act quickly to secure a home. With a 12-Month Change in Months of Inventory at -56.28%, the market is tightening, and prices are rising.
Homes Selling Fast
The Median Days Homes are On the Market is 22, demonstrating that homes are selling relatively quickly. This is a sign that buyers are eager to purchase in this market. With such limited inventory, you can expect to face competition from other buyers.
Median Sold Price: $465,000
The Median Sold Price is $465,000, providing an insight into the average price of homes selling in this market. Keep in mind that prices may vary depending on your specific needs and circumstances.
Conclusion: Be Prepared
Given the competitive market, it’s crucial to be prepared to act quickly and potentially offer above asking price to secure a home. Consider working with a knowledgeable real estate agent who can guide you through these market conditions and help you find the right home for you.
If you’re in the market for a home in Brockton, Massachusetts, understanding the current market trends is crucial. With a low inventory and high demand, you’ll need to be prepared to act quickly to secure a home.
For expert guidance in navigating the competitive market in Brockton, Massachusetts, contact me, Lew Corcoran, REALTOR, today!
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