Home Sales Market Timing 2020 – 2021

Market Timing 2020 – 2021

How fast did properties sell in 2021?  The most accurate measurement is “Days to Offer” which shows how quickly home buyers submitted offers and how quickly the sellers accepted an offer.  The market statistics below reflect the average days to offer and average days on market for Condominium, Single Family, and Multi-Family homes sold in 2020 and 2021 in Arlington, Belmont, Cambridge, Medford, and Somerville, Massachusetts.

Days to Offer & Days on Market

Days To Offer reflects the number of days from the original list date to offer acceptance and more accurately reflects the sense of urgency from home buyers who are “ready, willing, and able” to buy in the short term.  The abbreviation used for Days to Offer is “DTO”.

Days on Market are counted from the original listing date to the date a listing status is changed to “Under Agreement”.  The methods used to determine when a property is under agreement can be subjective but it is intended to reflect the date upon which buyers and sellers sign a Purchase and Sale Agreement.  The abbreviation used for Days on Market is “DOM”.

Market Timing:  Arlington MA 2020 – 2021

In 2021 the “Days to Offer” for Arlington was 5 days faster for Condominiums; 6 days faster for Single Family homes, and 10 days faster for Multi-Family homes as compared to 2020.  Home buyers and sellers in Arlington fully executed a purchase and sale agreement 4 to 11 days faster in 2021 as shown in the chart below for “Days on Market”.

Ave Sale Price Arlington 2021:   Condo $708,904   Single Family $1,069,072   Multi-Family $1,168,580
More statistics:  Arlington MA Market Statistics

Market Timing:  Belmont MA 2020 – 2021

In 2021 the “Days to Offer” for Condominiums in Belmont was 3 days faster; for Single Family offers were accepted 11 days faster, and 11 days faster for Multi-Family homes as compared to 2020.  Home buyers and sellers in Belmont fully executed a purchase and sale agreement 1 to 12 days faster in 2021 as shown in the chart below for “Days on Market”.

Ave Sale Price Belmont 2021:   Condo $797,522   Single Family $1,512,612   Multi-Family $1,181,120
More statistics:  Belmont MA Market Statistics

Market Timing:  Cambridge MA 2020 – 2021

In 2021 the “Days to Offer” for Single Family homes in Cambridge was 5 days faster than in 2020.  Home buyers and sellers of Cambridge Single Family homes fully executed a purchase and sale agreement 7 days faster than the previous year.

The “Days to Offer” for Condominiums in Cambridge was 2 days slower, and 7 days slower for Multi-Family homes as compared to 2020.  Home buyers and sellers fully executed a purchase and sale agreement 3 to 8 days slower for Cambridge Condominiums and Multi-Family homes in 2021 as shown in the chart below for “Days on Market”.

Ave Sale Price Cambridge 2021:   Condo $987,707   Single Family $2,124,383   Multi-Family $2,115,204
More statistics:  Cambridge MA Market Statistics

Market Timing:  Somerville MA 2020 – 2021

In 2021 the “Days to Offer” for Condominiums in Somerville was 6 days faster than in 2020,  Home buyers and sellers fully executed a purchase and sale agreement for Somerville Condominiums 5 days faster than the previous year.

The “Days to Offer” for Single Family homes in Somerville was 2 days slower than in 2020, and 6 days slower for Multi-Family homes.  Home buyers and sellers fully executed a purchase and sale agreement 4 to 7 days slower for Somerville Single Family and Multi-Family homes in 2021 as shown in the chart below for “Days on Market”.

Ave Sale Price Somerville 2021:   Condo $849,470   Single Family $1,082,201   Multi-Family $1,357,104
More statistics:  Somerville MA Market Statistics

Market Timing:  Medford MA 2020 – 2021

The “Days to Offer” for Medford Single Family homes in 2021 was 30 days faster than in 2020, and 2 days faster for Multi-Family homes.  Home buyers and sellers fully executed a purchase and sale agreement 1 to 2 days faster for Medford Single Family and Multi-Family homes in 2021.

In 2021 the “Days to Offer” for Condominiums in Medford was 3 days slower than in 2020,  Home buyers and sellers fully executed a purchase and sale agreement for Medford Condominiums 4 days slower in 2021 as shown in the chart below for “Days on Market”.

Ave Sale Price Medford 2021:   Condo $631,401   Single Family $771,635   Multi-Family $944,479
More statistics:  Medford MA Market Statistics

Data Source:  MLS Pinergy® as of 2-25-2022
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Tamela Roche

Contact Tamela to schedule a Home Seller Consultation or Home Buyer Consultation to prepare for the sale of your current home or to purchase a new home in Arlington, Belmont, Cambridge, Medford, or Somerville MA.

As a Client you will also receive my Residential Market Analysis with comprehensive market data and historical home sale trends to help you make decisions with confidence and peace of mind.

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