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News & Press: Market Update

Buyer Competition Continues as Inventory Remains Low

Wednesday, December 27, 2017   (0 Comments)
Posted by: Maria Brogan
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NEAR reported today that statewide closed sales and median prices rose year-over-year, while locally closed sales were slightly lower than last year. Prices continue to increase for both single-family and condominium markets in our area because of high demand and historically-low inventory. Increasing housing prices will especially hurt first-time homebuyers trying to get into the market.


November Closed Sales:


November 2017

November 2016

% Change





Median Price




  • Days on market down 15.7 percent versus last year.

  • Sellers received 97.8 percent of list price in last month.

  • Healthy inventory is considered to be 3 months, November ended with 1.6 months.



November 2017

November 2016

% Change





Median Price




  • Days on market down 5.8 percent versus last year.

  • Pending sales down 15 percent compared to November 2016.

  • New listings down 3.3 percent versus same time last year.


“We’re seeing a slowdown in the market with the holidays, but there are still active buyers out there,” said 2017 NEAR President Will Molina, broker with Coco, Early & Associates in Haverhill. “With continued low inventory and fewer seasonal buyers, homes that are priced well are receiving multiple offers.”


The Northeast Association of REALTORS® is one of 1,200 local chapters of the National Association of REALTORS®. Officially, NEAR covers 15 cities and towns from Boxford to Littleton, though it has members from more than 50 cities and towns in the Merrimack and Nashoba valleys as well as southern New Hampshire. The term, REALTOR®, is a trademark for use exclusively by members of the National Association of REALTORS®, whose members subscribe to a strict Code of Ethics.