So how's the real estate market doing?

So the big question always is - So how's the market doing in our town? I watch MetroWest Boston quite closely I was quite shocked but happy this August when I looked at the number of homes sold in Medway Jan-Aug (97) for 2011. That wasn't the shocking part. The shocking part was when I compared it to our busiest year ever, 2005. The number of homes sold in Medway Jan-Aug 2005 - was exactly the same - 97. That told me that the market has stabilized in terms of homes selling - The price point of those homes still appears to be dropping.

Here's some recent statistics for Jan - Oct 2011 for surrounding towns. I follow Medway,Millis,Franklin,Holliston and Bellingham. And here are some interesting stats about those towns.

• The average sale price in Holliston in 2010 was $423k. As of October 2011- The average sale price has increased to $447k!



• Millis Franklin and Medway all seem to be on par with 2010 statistics for average sale price. In October, they were $327k,396k and $367k in that order (Millis Frankin and Medway)



• In the 5 towns we looked at - Last year Holliston had the best days on market (90 days) but this year thru October Franklin's homes on average are selling the quickest (110 days) so homes are staying on the market just a bit longer than 2010.



• The most affordable homes were in Bellingham where last year the average price point was $282k but in 2011 thru October the average price point is $263k!

For the detailed statistics for YTD 2011 - Click Here.

Homes are more affordable today than they have been for quite a while and the first time buyers are out there! If you would like to know more about the value of your home or how to search for a new home, give me a call!