Oxford MA Real Estate Update: 2010 2nd Quarter Home Sales

Oxford MA Real Estate Update

2010 2nd Quarter Home Sales

Oxford, MA Real Estate:The second quarter of 2010 was an important time for real estate.  We had the spring market surge, along with the winding down of the tax credit incentive.  Let's see how home sales went in Oxford MA, for the second quarter of 2010 compared to second quarter 2009.

Number of Homes Sold

In 2009, 23 single family homes sold during the second quarter of the year. 
In 2010, 28 single family homes sold during the second quarter of the year.

For condominiums,  12 units sold during the 2nd quarter of 2009, and 14 condos sold in the 2nd quarter of 2010.

Average Sales Price

Second quarter 2009 average single family home price was $197,172.
Second quarter 2010 average single family home price was $210,864 - a slight increase from 2009.

Second quarter 2009 average condo price was $132,187.
Second quarter 2010 average condo price was $150,605.

Average Days on Market

For the homes sold during the second quarter of 2009, the average time on market was 139 days.
For homes sold during the second quarter of 2010, average time on market was 91 days - very brisk for Central Massachusetts.

The average time on market for condominiums in the 2nd quarter of 2009 was 133 days.
The average time on market for condominiums in the 2nd quarter of 2010 was 136 days.

Current Market Snapshot

Currently, there are 72 single family homes for sale in Oxford, MA.  The prices range from $82,000 for a bank-owned home with freeze damage, to $489,900 for an new executive home with over 3000 square feet and 5 acres of land. 

There are currently 23 condominium units on the Oxford MA market.  The prices for condos range from $87,000 to $257,000.

Summary

The second quarter of 2010 saw a comparable number of home and condo sales in Oxford, MA, compared to the same time period in 2009, with a moderate increase in the average sale price of homes sold.  This is similar to a price increase seen among other towns in Central Massachusetts.  The average time on the market in Oxford is better than many other towns in Central Massachusetts.

What will be telling will be the final two quarters of 2010.  Will this sales trend continue, or will the end of the tax credit have a slowing effect on the market?  Check in early October to see how the market changes in Oxford, MA.

Are you planning to buy or sell a home in Oxford, MA?  Call me for an honest discussion of ways you can make the market for you:  (508) 982-0686.