Scituate Real Estate & Homes for Sale

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.