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The housing market in Scituate is notably competitive. Last month, the average selling price for a home in Scituate stood at $779K, reflecting a 29.2% decrease compared to the previous year. Additionally, the average sale price per square foot in Scituate is now $425, which represents a 2.5% increase from last year.
Median Sale Price
Median Sale Price per Sq. Ft.
# of Homes Sold
Median Days on Market
In December 2023, the real estate market in Scituate experienced a significant shift. Home prices decreased by 29.2% from the previous year, settling at a median price of $779K. Homes tended to remain on the market for an average of 49 days before selling, showing an increase from the 33 days observed last year. Additionally, the number of homes sold in December saw a decrease, with only 3 homes sold, compared to 9 in the same month last year.
For potential home buyers, this trend suggests a more favorable market, with reduced prices and a longer window to make purchasing decisions. On the other hand, sellers may need to adjust expectations around pricing and timeframes, potentially exploring strategies to enhance home appeal or considering more competitive pricing to attract buyers in this changing market.
Scituate's real estate market is highly competitive, with properties selling rapidly, typically within just 18.5 days. A significant number of homes receive multiple offers, and in several cases, buyers are waiving contingencies to make their offers more attractive. On average, homes in Scituate are selling at approximately 1% above the listing price and tend to go under contract in around 19 days. Properties that are particularly in demand, often referred to as 'hot homes,' can sell for around 8% above the list price and may go pending in as little as 12 days.
This scenario indicates a strong seller's market in Scituate, where demand outpaces supply. Buyers should be prepared for a fast-paced market and consider strategies like offering above list price or waiving certain contingencies to strengthen their bids. Sellers, on the other hand, can expect quick sales, potentially at premium prices, especially if their property is highly sought-after in the current market.
If the dynamic and competitive nature of Scituate's real estate market excites you, or if you have questions about the local housing trends, we're here to help. Reach out today to discover the unique properties in Scituate, and let’s navigate this lively market together to find your dream coastal home.
Whether you are buying or selling a home on the South Shore, our goal is to provide you with the level of personal attention and services you need to ensure a smooth and successful real estate transaction.
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