Suburban Boston’s 6 hottest housing markets in June

by Claire Fountas

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Those hoping to purchase homes in Boston’s surrounding suburbs face increasingly steep prices and fierce competition — a factor that has led to a cooling off of the metro’s market.  Some neighborhoods, however, have defied this trend and showed impressive sales growth last month.

RE/MAX Leading Edge has released June 2017 sales data broken down by Boston neighborhoods and suburban sub-markets. Though more Boston suburbs saw decreases in total sales than increases, the numbers indicate notable year-over-year growth for a few markets in the area.

Here are six suburban markets that saw impressive growth in single-family home sales in June, courtesy of RE/MAX Leading Edge.

Somerville: When it comes to sales growth, Somerville blew other Boston suburbs out of the water. Single-family home sales increased by an astounding 200 percent in June, and pending sales increased by 175 percent. Despite these numbers, average days on the market decreased by 187.1 percent — an arguably promising sign for potential buyers wary of having to make a quicker purchase as a result of Boston’s heavy competition.

Units Sold Median Price Inventory Days on Market Pending Sales
2017  15 $880,000 30 20 11
2016  5 $660,000 8 7 4

 

Winchester: This small suburb saw a large increase in single-family home sales last month and even a slight increase in inventory — a rare spectacle for a market that has been plagued by low inventory for years. Single-family home sales went up by 41.9 percent and total inventory increased by 1.9 percent from June 2016. The number of pending sales in Winchester also jumped exactly 100 percent year-over-year.

Units Sold Median Price Inventory Days on Market Pending Sales
2017 44 $992,500 105 40 44
2016 31 $1,008,500 103 41 22

 

Lynnfield: Though the historic town of Lynnfield continues to follow Boston’s trend of decreasing inventory, a large increase in home sales indicate favorability from potential homebuyers. Single-family home sales jumped 75 percent since June 2016.

Units Sold Median Price Inventory Days on Market Pending Sales
2017 14 $557,500 61 34 15
2016 8 $640,000 71 35 18

 

Reading: Inventory in Reading neither increased nor decreased, but the market posted growth almost all over the board — in fact, single-family home sales saw a large increase of 42.3 percent. There was also an 81-percent increase in pending sales for June, and median sale prices increased by 21.9 percent.

Units Sold Median Price Inventory Days on Market Pending Sales
2017 37 $689,900 76 24 38
2016 26 $566,050 76 28 21

 

Wakefield: The town of Wakefield experienced a relatively strong growth of 17.2 percent in single-family home sales. Despite dips in inventory, there were also 40.9 percent more pending sales in June 2017 than there were at the same time last year.

Units Sold Median Price Inventory Days on Market Pending Sales
2017 34 $511,000 56 60 31
2016 29 $455,000 76 20 22

 

Newton: Newton only saw a modest 2.4-percent increase in single-family home sales, but the market did see an 11.1 percent increase in median home prices. Average days on the market also dropped from 53 to 35, alluding to the idea that buyers are increasingly quick to snatch up homes in this area when they become available.

Units Sold Median Price Inventory Days on Market Pending Sales
2017 86 $1,250,000 237 53 94
2016 84 $1,125,000 62 62 62
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