Home Sales Down 16.73% & Prices Up 6.97%
Woburn’s market saw a decrease in sales of 16.73% from 257 to 214.
Conversely, average price has increased 6.97% from $614,563 to $657,389.
These metrics include single families, condos, and multi-families. The categorical breakdowns are listed in the infographic above.
The number of listed homes dropped to 239 over 288 last year, a 17.01% decrease.
Pending sales decreased by 24.11%, moving from 282 to 214 in the same time period year over year.
The Massachusetts real estate market is starting to balance out, and Woburn is no exception to that rule, validated by this mid-year data. As we continue through the year, increased mortgage rates will keep buyer demand lowered and sales along with it. Prices won’t drop dramatically, but inventory has not risen enough yet to cause a major price depreciation, however, they will start to appreciate at a slower rate.
To learn more about Massachusetts performance and the predictions for the rest of the year, click here to read the 2022 Massachusetts Mid-Year Report.
Data provided by Warren Group & MLSPin and compared to the prior year.