February Single Family Home Sales and Market Update for Sherborn, MA

As of February 28, 2009, there were 33 single family listings in Sherborn on the Multiple Listing Service (MLSPin).  Inventory levels are growing and there is little movement in the market in Sherborn.  As the spring months arrive, activity levels should increase, however right now, the buyer is firmly in the driver's seat.  During February, 1 new single family listing was added to our MLSPin and an additional 2 single family homes were relisted for sale on the MLS, with an average list price of $1,376,467.   

I normally try to calculate a market absorption rate for all the towns that WEICHERT, REALTORS®-Synergy services and reports upon.  However, this information is not meaningful at this moment in time for Sherborn, because there is very little movement in the sale of single family homes at present.  To say that it is currently a buyers' market in Sherborn is an understatement.

The average list price for a single family home is $1,066,908.  The lowest price is $199,888 and the highest price is $4,000,000, with the largest concentration of homes (39.4%) priced in the $700,000 to $999,999 price range.  Of note, the average list price for a single family home in February 2008 was $1,193,587.

The median price is $852,000 and the average days on market are 288 days.  This compares to a median list price of $898,000 and average days on market of 246 days as of February 29, 2008.

There were 2 properties that went under agreement during the month of February (February 2008- 2 properties).  No single family homes sold during the month, nor were there any sales in the comparable period in 2008.

During February 2009:

12 properties experienced price changes averaging -4.07%

Sales price to original price was N/A

Sales price to (last) adjusted price was N/A

0 property listings expired