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 136 properties listed October 1. This is down 16% from 162 last year. Sales volume
in September slowed with 23 home sales. The
median sales price was down from August but up slightly from last year at $649,000. In September the
average time on market decreased to 63 days. At the current sales rate we have a 6 month supply of homes for sale which indicates that the Lexington, Ma. market currently remains slightly in favor of sellers.
Sales will slow down as we move into the fall and winter with normal seasonal factors taking control. Other area towns continue to see strength in the entry level home markets and those sellers are typically looking to move up into the price range for Lexington homes. The interest rates are still low and with the economy showing signs of strength we should see a normal season and strength coming into 2011. Real estate is a
local market, and locally the economy continues to be strong, so for those
buying and selling homes in Lexington life goes on.
For a longer term view of the market click here for the Lexington Quarterly Report, or call Mike at 781-771-7216 for a detailed review of how the market can affect your goals.
