Each month I prepare a summary of the sales data in the
town, this data provides some general view of what the market is doing.
For a better understanding of how this relates to your specific
interests please give me a call at 781-771-7216. The graph below shows the monthly numbers for the last year. The line is for the median price and the bars for the numbers of homes sold.
In the Single Family market, there were 39 properties listed January 1. This is down 13% from last year. Sales volume
in December was much lower than November's high and below last year with 6 homes sold. The low December numbers are a result of the tax incentive deadline in November. Despite the buying pressure the median sales price had only inched up in November but then fell back to $306,000. In December the
average time on market was 60 days. Currently we have a 6.5 month supply of homes for sale which indicates that the Burlington, Ma. market has shifted to neutral favoring neither buyers nor sellers. These sharp swings in sales are the result of increased buyer activity in response to the tax credits, and it remains to be seen if the extended credits are able to continue the sales volume.
2009 sales volume showed some recovery over 2008 levels. With mortgage rates at historic lows, and lots of homebuyer tax incentives in place, we should continue to see price and volume strength through the first half of 2010. To carry strength beyond the April tax incentive expiration we need to see the economy start to show strength and see improved employment numbers.
So the moral of the story for now is it is a good time to sell and a better time to buy if you are able.
For a longer term view of the market click here for the Burlington Quarterly Report, or call Mike at 781-771-7216 for a detailed review of how the market can affect your goals.
