Middlesex County Real Estate Market Update – October 2023
Currently, we have a total of 1.61 Months Supply of Inventory in Middlesex County. Now, what does that mean? Well, it’s a measure of how long it would take for all the homes on the market to sell if no new listings were added. It gives us a sense of the overall market activity. And let me tell you, this number is quite interesting! Over the last 12 months, the Months Supply of Inventory has actually decreased by a whopping 40.15%. That’s right, folks, the market is moving fast!
Now, let’s shift our focus to the List to Sold Price percentage. This is a crucial factor for both buyers and sellers. Currently, in Middlesex County, homes are selling for 103% of their listed price. That’s definitely something to keep in mind if you’re planning to sell your home. It’s a great indicator of the strong demand and competition in the market.
Next up, we have the median days on market. This is the average number of days it takes for a home to sell. In Middlesex County, the median days on market is 49. Now, this number may vary depending on the specific neighborhood or property, but it gives us a general idea of how quickly homes are moving. So, if you’re a buyer, be prepared to act fast when you find that dream home!
Lastly, let’s talk about the median sold price. Currently, the median sold price in Middlesex County is $485,000. This gives us an indication of the overall market value and the prices buyers and sellers can expect. It’s important to keep in mind that prices may vary depending on the size, location, and condition of the property, but this number serves as a great benchmark.
