WHAT’S THE MILLION DOLLAR QUESTION ?

If you guessed, “Have we hit bottom yet”,   then you’re like millions of others asking the same question.  If I had a dollar for every person that asked me this question, I wouldn’t need to sell real estate!     

It’s been an interesting first half of the year and the statistics show that prices have declined from prior year,   however home sales have increased in some towns.   Acton home sales increased from 58 to 65 homes sold,   Maynard and Ayer home sales increased from 34 to 36, and 20 to 30, respectively.  Concord home sales dropped from 64 to 42, and Bedford home sales dropped 34 to 28, while Littleton dropped from 27 to 20, and Westford remained flat at 57 homes sold.    The increase in home sales indicates that buyers are making offers and homes are selling.    Over a year ago, we saw home sales down across the board, this year we are seeing home sales up in some towns.   This could be the turning point in our area.   Some buyers can take advantage of the $8000.00 first time home buyer tax credit if they purchase a home by November 30, 2009.  As of this writing, interest rates are less than 5.75%.     If you purchased a home 3 months ago, you may have been lucky enough to lock your rate at 4.5%, which would have saved you over $650 per month on a 500K mortgage.   Is it worth it to wait and buy a home next year?   If house prices and interest rates come down, then yes, but that's unlikely.  If you’d like more information on buying, selling, or investing in real estate market, please feel free to contact me.   

 

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MARKET STATISTICS PAST 6 MONTHS
Dec, 24, 2008 – Jun 24, 2009 *
Single Family Home Sales

Acton Real Estate
# Sold Homes 65
Average Days on Market 125
Average Selling Price $520,261

Selling price down 5.6% from prior yr

Ayer Real Estate
# Sold Homes 30
Average Days on Market 201
Average Selling Price $276,916

Selling price down 15% from prior yr

 Bedford Real Estate
# Sold Homes 28
Average Days on Market 66
Average Selling Price $513,536

Selling price down 4.2% from prior yr

 Concord Real Estate
# Sold Homes 42
Average Days on Market 178
Average Selling Price $964,176

Selling price down 2.5% from prior yr

Littleton Real Estate
# Sold Homes 20
Average Days on Market 211
Average Selling Price $367,756

Selling price down 5.3% from prior yr

Maynard Real Estate
# Sold Homes 36
Average Days on Market 120
Average Selling Price $283,142

Selling price down 11.% from prior yr

Westford Real Estate
# Sold Homes 57
Average Days on Market 165
Average Selling Price $423,417

Selling price down 10% from prior yr

*data provided by MLS Property Information Network, Dec 24, 2008- Jun 24, 2009