MA Home Prices Up, Sales Down in July!
While compiling data for the July Market Reports for the towns Northwest of Boston that Clayton Realty Group specializes in, we noticed a couple of things. There was a marked decrease in the number of single family homes and condos sold between June and July 2010. At the same time, prices increased ever so slightly. This got us to wondering, how did this compare to Massachusetts real estate as a whole? So we took a closer look…
Home Sales
Our Northwest towns
- July saw a total of 197 single-family homes sold compared to 285 in June, a decrease of 30.9%.
- Condo sales for the same period went from 106 to 43, for a whopping 59.4% drop.
- A comparison between July 2009 and July 2010 saw single-family home sales stay pretty steady declining only 7.1% from 212 to 197.
- Condo sales for this period were down a huge 62.3% from 114 to 43.
Massachusetts
- Sales of single-family homes saw a decline from 4,978 in June to 3,001 in July, a change of 39.7%.
- Condo sales went from 2,121 to 1,169, down 44.9%.
- July 2009 to July 2010 saw single-family home sales down from 4,320 to 3,001 for a 30.5% decline.
- Condo sales for this period were down 1,804 to 1,169 for a 35.2% drop.
Sale Prices
Our Northwest towns
- The average sale price of a single-family home saw a tiny increase of .6% between June and July of 2010 and went from $679,443 to $683,217.
- Average sale price for a condo went up 4.7% from $365,724 to $382,894 for this period.
- July 2009 to July 2010 average for single-family homes increased by 7.2% from $637,508 to $683,217.
- Average price for a condo during this period increased 2.0% from $375,243 to $382,894.
Massachusetts
- The average sale price of a single-family home across the Commonwealth went up 2.8% between June and July of 2010 from $418,263 to $429,815.
- Average sale price for a condo went up 7.7% from $337,674 to $363,742 for the same period.
- July 2009 to July 2010 average for single-family homes rose by 10.4% from $389,428 to $429,815.
- Average price for a condo during this period increased 11.8% from $325,405 to $363,742.
The home buyer tax credit did have a significant impact on the number of homes sold during the month of June, which meant a whole lot less buyers all around in July. Slightly higher prices and interest rates still at a crazy low contribute to the ever present quest of trying to find that delicate balance. For a buyer, hope prices will come down while risking a higher interest rate? For a seller, count on prices continuing to rise which could mean a smaller pool of buyers?
Want a little more detail? Check out our monthly market reports for Acton, Arlington, Bedford, Carlisle, Concord, Lexington, Littleton, Waltham, Westford & Winchester.
Listing data provided by MLSPIN
Hi, I'm Jake...and that's my dog! By day I'm founder and Chief Geek at MyUntangled Media, LLC and Executive Director of Business Development at Barrett & Company Real Estate . By night I am part struggling musician, frustrated writer, wanna-be chef and obsessed dog owner. I started this site mainly to learn WordPress, work on my design and writing skills, and showcase some folks with all kinds of talents and great stuff to say. (Read the long version if you dare) and please introduce yourself over on my Google+ Profile!
