As the saying goes, All Real Estate is Local. WIth that in mind, let's look at the first quarter of 2008 as it relates to The Metrowest Market and Medway in particular.
As of march 30th, there are 72 single family homes on the market in Medway. They range in pricing from $219,900 to $1,300,000! The average days on market for these homes is 210 days. In this first quarter (through March 30th) 29 homes have gone under agreement or have sold. The average market time for the homes that have sold is 167 days with 8 of the 29 homes selling in less than 8 weeks. That proves the point that if a house is priced competitively, it will sell in a reasonable amount of time.
Of the 72 homes that are now on the market, four of those recently have had an offer accepted. Two of those 4 homes received an accepted offer within a week! The buyer community is seeing value in the current pricing and they are out looking and buying.
For more detail on the Medway Market or for detail on condos and multis in Medway, feel free to email me at mkramarz@prudentialpage.com . I'd be glad to provide the same info for any other metrowest town. OR JUST LEAVE A COMMENT BELOW and I'll be in touch!
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