Year to date Cohasset has 10% more listings on the market than the previous year, but sold listings are unchanged. Month’s supply is currently 6.5 months making the current real estate market a balanced one - neither a seller's or buyer's market. There is still strong demand with days to offer down by 30%, but the consumer has been pushing back on price with price adjustments up by 50%. We are not seeing listings sell over asking, even in multiple offer situations.
The market can be very different between price ranges. The price range with the most activity is between $700 and $850,000. In this particular price range, it is a seller's market with just a 3 month’s supply. When you get to $1.5 million and over, the market jumps to a buyer’s market with 10 month's supply. At 2 million, inventory jumps to 18 months. It is interesting that in Hingham, we are seeing the same pattern - listings priced at $1.5 million and over, there is a 10 month’s supply and 19 month's at 2 million and over.