BOSTON HOUSING INVENTORY DOWN!
Between late summer and the end of the year many areas in Boston have defied history. An expanding inventory has suddenly contracted and have not only slowed the inevitable change from a balanced market (3-6 months of inventory) but have reverted many areas back into a seller's market! The chart below shows over 60 towns/neighborhoods around Boston, providing you a glimpse into which towns/neighborhoods are best to buy or sell in as of today. The market is in constant flux as houses come off the market due to seller fatigue, withdrawn for the holidays, or change of mind about selling, or as other new listings come on the market.
Typically, sales from November to January shrink in number. You will see below that every town or neighborhood has seen a drastic drop in home sales for the first 18 days in December relative to the average number of sales per month from Dec 1, 2018 through Nov 30, 2019.
Generally speaking, the best time to buy is now through January as competition will really start to heat up in February. If you want to know in which towns you might get the best deal, look down the column of # of months supply and see which are at 6 months or greater. Another way to look at it is to see which areas have had the fewest number of sales this month... especially if the number that have been selling on average is drastically higher.
The hottest time to sell is from February to April. Therefore, get your home on the market in January!!