A new look at seasonality in house prices
I have written many times about the seasonality in median selling prices by quarter in Massachusetts. Because sales take place around 2 months after an offer is accepted, sales are a lagging indicator. In this report I look at the median list price of offers that have been accepted each month to gauge more current information about what is selling.
First, let’s look at the median sales price for the year in Marblehead. Note that the highest price has been achieved most frequently in Q3, followed by Q4,Q2 and Q1.
The chart below shows the median list price of houses with accepted offers monthly for the last two years. I think it shows how prices of houses that are selling in Marblehead have increased from last year.
Finally, through today the median price of homes sold in Q4 is $540,700, so it looks certain that 2015 will be another year when the highest median price occurs in Q3.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
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