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 77 properties listed October 1. This is up slightly from last year. Sales volume
in September was still reasonable with 8 homes sold only slightly below last year. The chart clearly shows how the first tax incentive deadline in November pulled many home sales into that month. May showed the same effect with the April P&S deadline driving many May/June closings. July continued on seasonal strength, but we are seeing August and September starting to show the normal fall winter slow down. Median sales prices dropped somewhat from the summer highs at $380,000. In September the
average time on market was 78 days. Assuming this sales rate continues we would have a 9 month supply of homes for sale, this tips the balance in favor of buyers.
With mortgage rates at historic lows, and the economy starting to show improved strength we should continue to see price strength through the end of 2010, and as the economy gradually improves spring of 2011 should bring good things.
So with prices up it is still a good time to sell and with very low mortgage rates it is even a better time to buy.
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.
