It is half way through 2019 - mid summer- and we have some real estate market statistics for Cambridge and Somerville regarding when properties go Under Agreement.
What does this mean? Under Agreement means that an offer presented by a buyer has been accepted by the sellers. This becomes a binding contract.
"When properties go under agreement" is good insight to know if you are planning to both buy and sell. For sellers this helps in planning timing of when to hit the market with your property. For buyers, this is good to see when the competition is at it's highest. When competition isn't so high during the market we are currently still in, it could work in the buyers favor to see if they can make themselves a deal between sellers.
While some buyers and sellers are away on beach vacations, others are still here taking in what the summer market has to offer. See the below charts for some insight of the market over the last 5 years in the above Greater Boston neighborhoods.