Tuesday, May 01, 2012

 

Wayland Real Estate - Q1 Home Sales and Prices Up!


           
The number of single family homes sold in Wayland during the first quarter of 2012 surpassed the number sold during 2007 which was considered the peak. Median and average prices are also rebound. (See charts for year to year comparison).
The current market is very active. There are a few more homes for sale than last year – 93 compared to 89, however, 15 of those properties already have accepted offers with contingencies waiting to clear and there are an additional 31 with sales pending. Both median and average list prices are less than last year and lower prices are attracting more buyers. The median list price is $724,000; last year it was $748,000. The average is $1,096,925; last year it was $1,271,085.
The condominium market is also active. There are 16 condos/townhouses with accepted offers and there are 10 sales pending.

Bottom line, it’s all about price and as much as the market improved, there were 48 prices adjustments/reductions on 35 properties during the first quarter. And, there were 13 expired listings on properties that were on the market for an average of 297. (Expired listings are those that do not sell during the contract period.)
So, while it’s easy for sellers to get over-confident when they hear the market is improving and even some multiple offers, a property that is incorrectly priced will not sell. On the other hand, buyers need to be prepared to step up when they find a good value because those properties are likely to attract other buyers quickly.

Monday, May 10, 2010

 

Sudbury MA Real Eestate Market - Sales Up; Prices Down; Fewer Homes on Market

Welcome to the Sudbury MA real estate market conditions report for May 2010.

Although the overall supply of single family homes for sale in Sudbury is less than last year at this time – 140 homes compared with 149, there are some prices ranges that have increased inventory. The price-range with the largest increase is $700,000 to $799,999 – 21 homes on the market up from 14 last year at this time; next is one million to $1,499,000 – there are 36 compared with 30 on 5/10/09; so good opportunities for buyers in those price ranges, especially in the luxury home market.

19 of the "active" listings have accepted offers and are being shown until contingencies are met. There are also 19 homes with sales pending. Four of the “accepted offers” were after the May 1 tax break deadline – so there is life in the Sudbury real estate market after the tax break expired.

Current list prices for single family homes range from $199,000 to $3,195,000. Both median and average list prices are down from last year at this time, and are also less than one month ago - the median is $874,000 vs. $885,000; the average is $1,000,014 vs. $1,000,445 last year. The average list price for homes with accepted offers is $808,226. The average list price for homes with sales pending is $781,821; note accepted offers are generally more recent than pending sales. The average days on the market is up – 160, last year it was 163.

April 2010 closed sales were up from April 2009 - there were 14 closed sales compared to 10 during April 2009. Median and average sale prices were lower; the April 2010 median was $597,250 and the average was $694,714; the April 2009 median was $832,000 and the average was $1,119,050. These decreases do not mean that every house value has dropped; it just means that there was higher demand in the lower price ranges that most likely as a result of the tax credit which had an $800,000 limit.

Year to date as of 4/30, there have been 38 closed sales, up from 32 for the first four months of 2009. The median sale price of $605,000 is up approximately $21,000; while the average sale price of $698,855 is down by approximately $21,000.

Visit http://www.marilynmessenger.com/ for the latest local market condition reports for Sudbury, Wayland, Weston, Maynard and Stow MA, complete MLS home search, news and information to help you plan your next move. To get market information for any other town e-mail marilynmessenger@realtor.com.

Data Source: MLSPIN (Multiple Listing Service Property Information Network)

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Friday, January 29, 2010

 

December Existing-Home Sales Down but Prices

Here what Lawrence Yn, NAR chief economist has to say about the real estate market


Thursday, September 17, 2009

 

White House considers extending tax credit for first-time home buyers - The Boston Globe

White House considers extending tax credit for first-time home buyers - The Boston Globe

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White House considers extending tax credit for first-time home buyers - The Boston Globe

White House considers extending tax credit for first-time home buyers - The Boston Globe

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Wednesday, September 09, 2009

 

For Sale: 2BR/1.5BA Townhouse in Maynard, MA, $240,000

For Sale: 2BR/1.5BA Townhouse in Maynard, MA, $240,000

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Friday, September 04, 2009

 

Mortgage rates near record lows - The Boston Globe

Mortgage rates near record lows - The Boston Globe

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Monday, August 24, 2009

 

New England Housing Market on the Rise?

New England Housing Market on the Rise?

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Sudbury MA - Opportunities Abound in Luxury Market

News for buyers continues to be better than for sellers in Sudbury. Overall inventory is up from last year at this time - 136 current listings compared with 115 last year; the median list price is the same; the average list price is slightly higher; and the average number of days on the market is just about the same. However the $900K to $999,900 has fewer homes available – only 5 compared with 11 last year at this time. Recent activity shows there are 16 single-family homes with accepted offers and 16 with sales pending.

Current prices for single-family houses in Sudbury range from $259,900 to $3,700,000. The median list price is $879,400; the list average price is $1,117,545. Opportunities abound in the luxury home market with 44 homes for sale between one million and two million dollars. The number of closed sales for July was down from July 2008 as were median and average sale prices; 20 sold vs. 32 in June 2008; the June 2009 median sale price was $481,750 vs. $640,750; the average was also down - $620,643 from $755,727. The average time on the market was 147 days – just about the same as July 2008.

Given the increase in the number of homes on the market and the decrease in the number of homes sold, sellers need to rethink their pricing strategies if they want to move on. If not, perhaps they should consider going off the market so that serious sellers and buyers can get together. Correct pricing is crucial; all the pretty pictures and videos in the world will not attract buyers if the home is not priced correctly. Lowering the price after the fact will only net less money and add even more frustration to the process.

Interest rates are low and there are lots of great choices for buyers! Visit www.MarilynMessenger.com for the latest local market condition reports for Sudbury, Wayland, Weston, Maynard and Stow MA, complete MLS home search, news and information to help you plan your next move. To get market information for any other town e-mail marilynmessenger@realtor.com.

Data Source: MLSPIN 8/18/2009

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