August Market Update: The 'Fast Trot' Economy

August Market Update: The 'Fast Trot' Economy

While the median single-family price hit a record $535,000 this August, the volume of sales has actually dipped. We are moving from a gallop to a fast trot.

By The Numbers

Median Price: Up 11.5% year-over-year. Sales Volume: Down 6.2% as inventory continues to dwindle. The Inventory Crunch*: We are currently seeing less than a month of supply in many MetroWest towns.

What it means for you

High prices are pricing some buyers out, but for sellers, the equity gains are historic. If you've owned your home for 5+ years, your net worth likely just took a major jump.