In my continuing efforts to keep my customers educated on the current market conditions, I have compiled some statistics for you on recent home sale trends and a comparison to previous years.
Town of Douglas,MA
December 08 Market Statistics
|
Area: |
Douglas, MA |
|
Property Type |
Single Family |
|
Month/Year |
Average Sale Price |
Average Days on Market |
Total Homes Sold |
|
Dec2007 |
$392310 |
237 |
5 |
|
Dec2008 |
$350000 |
171 |
5 |
|
Difference |
$-42310 |
-66 |
0 |
|
% Change |
-10.7% |
-27.8% |
0% |
|
|
Yearly |
Statistics |
|
|
All 2007 |
$367522 |
182 |
68 |
|
All 2008 |
$314347 |
175 |
61 |
|
Difference |
$-53175 |
-7 |
-7 |
|
%Change |
-14.5% |
-3.8% |
-10.3% |
This information is obtained from the Multiple Listing Service (MLS) in the state of Massachusetts.
Based on the Monthly comparison to last years information, it could be considered a Buyers market.
- The number of homes sold has not changed from last year at this time.
- The average selling price has significantly decreased from December last year, by almost 11%.
- The average DOM (days on market) has significantly decreased from last year.
With the Average Sale Price significantly decreased by 10+% it shows the market is weak on price and should be considered a Sellers Market. Total Homes sold showing no change indicates stable market with no indication of buyers or sellers market. Days on Market shows a major decrease for the month, but in relation to the marketplace as a whole puts it at the generalized average of almost 6 months rather than the previous of almost 8 months which was unusual. REMEMBER in any one month statistics can be dramatic as the sampling size is small.
Based on the Yearly comparison information above, it could also be considered a Buyers market.
- The number of homes sold has decreased from last year at this time by over 10% .
- The average selling price has significantly decreased from last year by almost 15%.
- The average DOM (days on market) has decreased slightly from last year.
With all three indicators: the Average Sale Price, Total Homes sold showing decreases, along with Days on Market showing an increase they show that the market is weak and continued to be weak over this period. This is a more significant period as it covers the full year and the sampling size is representative of what is truly happening in the Market for Douglas.
For more info on the town of Douglas click here
For foreclosure info on Douglas click here
For info on properties for sale in Douglas click here
Real estate trends can vary greatly from town to town and region to region. If you are considering some other areas and would like market statistics for those areas, please contact me by clicking here or this picture link: 
According to my lender partners, the interest rate for a 30 year fixed mortgage is currently 5.5% for a conventional loan and 6% for an FHA loan.(based on the date of this submission) So, all things considered, it is a great time to buy!
I hope that this information is useful to you. Please let me know if you would like any additional information or to begin a home search click here. I am always available to assist you.
- Michael Prescott, Realtor
- RE/MAX Innovations Serving Blackstone Valley and Worcester Counties
- mprescott@relocationma.com
- 508-380-6405
- http://www.michaelprescott.relocationma.com
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