The Housing Market in August proved to be a record setting month in 2020. Buyers have been flooding the market for the entirety of the year, making it a Seller’s Market and now Buyers are backed with extremely attractive mortgage rates below 2%. In August, Acton saw a 12% increase in the average sale price of a home over the same month last year making the average sale price $672,932. Homes are taking an average of eight days on the market to sell, indicating that people are purchasing it within two days of being listed then completing their typical five business day conditional period. I am pleased to see more people completing their due diligence when buying a home – doing a home inspection as well as completing a proper condition of financing before committing to buying a home. Here are the Acton specific statistics to consider for the period of August, 1 – August, 31, 2020 · 22 homes sold firm at an average of 103% of asking price · 13 of the 22 sales sold for over asking · 8 average days on market to sell Contrasting with August 2019 · 17 homes sold firm at an average of 97% of asking price · Average sale price in Acton - $601,553 · 37 average days on market to sell To get your foot in the door of Home Ownership in Acton, the lowest sale price in August was $295,000 for a two bedroom condo-apartment whereas the highest price was $860,000 for a four bedroom detached home. Toward the end of the month I saw a slight seasonal slow to the pace of the market as it typically does when parents and students are preparing for the return to school. Return to school for 2020 has been a big source of anxiety for parents and I did see a slight effect of this in the housing market. I am anxious myself to see what the new school year brings us; typically after two-three weeks of back to school routine, the housing market picks back up again to signal the beginning of the Fall market, let’s see what 2020 has in store for us!!
top of page
bottom of page
Comments