Are Sturbridge Home Sales Improving?

Are Sturbridge Home Sales Improving?

Recent reports show that month-over-month home sales are on the rise across the country.  However, when it comes to real estate, local conditions prevail.  This report shows month-over-month single family home sale in Sturbridge, Massachusetts, for 2010 compared to 2011.

Data source: MLS PIN

Looking at the graph above, you will notice that 2011 sales are ahead of 2010 figures for the months of January, February, and April.  Sales in 2010 were higher in the months of March and May, most likely due to the $8000 tax credit offered to first-time home buyers the first half of 2010. 

For the month of June, there has only been one home sold in 2011; however, the month is not yet over.  An additional six homes are shown to be under contract, which would put June 2011 home sales equal to June 2010 sales.

Current Market Conditions in Sturbridge

As of this writing, there are 77 single family homes on the market in Sturbridge, MA.  One of these shows as having an accepted offer but still showing for back-up offers.  An additional 11 homes are under agreement, slated to close in June or July of this year.

Summary

Real estate sales in Sturbridge remain slow but steady.  Based on current inventory, there is approximately 10 months' worth of single family homes on the market.  The average sale price continues to hover around the $250,000 mark.

My advice to home sellers?  Get your home in top condition before you put it on the market, and price your property aggressively.  You have a lot of competition, and this is the worst possible time to be testing the market. 

Do you need detailed information about the real estate market in Sturbridge or other, nearby towns?  Contact me for a detailed market analysis.  Mention this month-to-month report, and your market analysis (a $250 value) is free.