BURLINGTON REAL ESTATE - FOR THE MONTH OF NOVEMBER 2011 |
Here is what is happening in Real Estate Market of BURLINGTON, MA for the month of NOVEMBER 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 NOVEMBER last year and this year.
| NOVEMBER 2010 | NOVEMBER 2011 | Trends | |
| Number of Homes Sold | 7 | 17 |  |
| Median Sale Price | $387,500 | $358,000 |  |
| Averge Sale Price |
$381,886 |
$380,059 | |
| Days on Market | 71 | 113 | |
| Sale Price to List Price Ratio | 98 | 97 | |
| Total Volume | $2,673,200 | $6,461,000 | |
The number of sales are up - more than doubled. Median price is down a bit and so is the average price. Number of days for a home to be on market is up a lot - I mean, a lot! I am sure this is due to some low end inventory and holiday season. But you look at the overall volume....wow, it's jumped almost 2.5 times! So there is a good news - the homes are selling - so what if it takes little longer to sell?
Overall, compared to last NOVEMBER, it's a really 'great' and 'fat' market - a lot of improvement on number of sales this month - along with steady median price, and average price. This is what one should look forward to - and I hope the things remain the same for the last month of the year.
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 till last month! Now, you see the median price taking off once again. Great numbers this month means lower inventory and that means, higher median price. Will this trend continue? Not sure - only time will tell.
Feel free to reach me should you have any question about this.
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