Summertime and the Selling is Slowing

Conventional wisdom – which, like the weather forecast, is right occasionally – says that the pace of home sales slows after July 4. The logic of this is that, with the purchase process taking typically 6-8 weeks, July 4 or thereabouts is a good target date for those who want to be in their new homes in time for the start of the school year.

Let’s look at weekly accepted offers on SFHs in Marblehead since April:

Source: MLS, Oliver Reports

So, yes, the pace of sales has slowed recently. The weather forecasters got it right!

Because of a change in the method of recording offers, MLS data is available only back to June 2013. Here are monthly totals of accepted offers in MHD since then:

Source: MLS, Oliver Reports

Just like the stock market, real estate sales fluctuate from week to week and month to month. I see nothing in these numbers to concern me.

Now, the beach beckons – where’s my book and sunscreen?

If you  – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty

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