BURLINGTON REAL ESTATE - FOR THE MONTH OF OCTOBER 2011
Here is what is happening in Real Estate Market of BURLINGTON, MA for the month of OCTOBER 2011. Please note that this statistics is for SINGLE FAMILY HOMES only. (SOURCE: MLSPIN)
This table compares the real estate market in BURLINGTON, MA for the month of OCTOBER last year and this year.
|OCTOBER 2010||OCTOBER 2011||Trends|
|Number of Homes Sold||13||15|
|Median Sale Price||$443,000||$278,000|
|Averge Sale Price||$439.692||$323,593|
|Days on Market||125||71|
|Sale Price to List Price Ratio||98||95|
The number of sales are up - just by 2. Median price is down a lot - I mean, a lot! I am sure this is due to some low end inventory, also relfected in lower average sales price. Despite the lower prices, there is a good news - the homes are selling much quickly - 54 days sooner than what it was last year. Of course, total volume of sales is down drastically, too.
Overall, compared to last OCTOBER, it's a really 'sad' and bad market - a lot of improvement on number of sales is needed for next month - along with median price, and average price. This is what one should not look forward to - and I hope the things change next month.
Let's take a look at this chart that describes the trends for BURLINGTON, MA market over last year(courtesy: AltosResearch).
After a major drop in inventory before spring, surprisingly enough, the median price remained almost stable - and in fact, with reduced inventory, the median price went up slightly only - or perhaps too much for buyers to accept it! So, less sales, more inventory once again in summer - and the effect is shown in lower median prices - going down further this month! That's more like a realistic market and I expect the graph to be more stable now - for both, price and inventory. I expect the trend to be reveresed sooner than next spring.
Feel free to reach me should you have any question about this.