Medford Real Estate Market Update: September 2023
If you're considering buying or selling a home in the vibrant city of Medford, Massachusetts, you're in the right place. Here is the latest market update in Medford for September 2023.
The Supply and Demand Dynamics
Medford's real estate market is sizzling hot, and the numbers tell the story. Currently, there's a mere 1.35 months supply of inventory in the city. In other words, if no new listings were added, it would take just over a month to sell all the homes currently available on the market. Over the last 12 months, the Months Supply of Inventory has plummeted by a significant 48.9%. This drop signals an unmistakable surge in housing demand within our beautiful city.
Competitive Pricing for Sellers
Now, let's talk about the List to Sold Price percentage, a metric that reveals the competitiveness of the market. In Medford, sellers are thriving, with a remarkable List to Sold Price percentage of 101.17%. This means that, on average, sellers are achieving a price 1.17% higher than their listing price. If you're a seller, this is a golden opportunity to maximize your returns.
Time is of the essence in real estate transactions, and in Medford, the median days on market currently stands at just 13 days. That's right—only 13 days! This statistic highlights the speed at which eager buyers are snapping up properties. If you're a seller, this signifies a prime opportunity to sell quickly and efficiently.
Impressive Median Sold Price
Finally, let's discuss the Median Sold Price, which is currently an impressive $792,000. This figure represents the midpoint of all the homes sold in Medford over the past year and signifies the overall value and desirability of our local real estate market. With prices at this level, sellers can be confident in their ability to achieve a satisfactory return on their investment.
Your Trusted REALTOR® in Medford
Whether you're a buyer or a seller, the Medford real estate market is a dynamic one to watch. As your trusted REALTOR®, I am committed to helping you navigate these exciting times. If you have any questions or are considering making a move, please don't hesitate to reach out to me.
Download the Full Report
For more in-depth insights and detailed analysis, I invite you to download our comprehensive September 2023 Medford Real Estate Market Report. Click the link below to access the full report: