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 | |
| Total Volume | $7,716,000 | $4,853,900 | |
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.
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