From 01/01/08-07/15/08, the town of Charlton had 37 single family home sales ranging in price from $110,000 to $500,000. The average list price was $310,963 and the average sale price was $292,543. The average marketing time was 196 days.
Fast-forward to 2009 and what do you get? Year to date Charlton has 41 single family homes sales ranging in price from $86,000 to $655,000. The average list price is $282,690 and the average sale price is $268,017. The average marketing time is 190 days.
The trend? The number of sales has slightly increased and the marketing time is consistent. Prices have undoubtedly declined at a steady pace. In numbers the decline rate is 8.4%. Please remember this if you are trying to sell and are trying to reason about what to price your home at. It DOES NOT matter what you bought it for in 2004, what it appraised for in 2005 or what you need to purchase your next home. Prices are what they are. The number of current homes for sale in Charlton is 94 homes!!! 94 HOMES!!! With less than half of that selling in a 7 1/2 month period, it is critical for you to price your home correctly to avoid sitting on the market FOREVER.
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