Wareham MA - Market Report 2009 3rd Quarter

By
Real Estate Broker/Owner with Top Agent Plus

Single Family home sales volume remained consistent for the first two quarters of 2009 and increased for the 3rd quarter in Wareham, Massachusetts. First quarter started off with 356 listings, 45 sales and an inventory supply of 23.9 months.

Second quarter had an increase in inventory (+74) and a very slight increase in sales (+5) causing the the months supply to rise to a level of 26.8.

Third quarter also had an increase in inventory (+41) plus an increase in sales (+26) putting the supply down to 18.6 months.


Wareham Real Estate Absorbtion Chart

Median sales price in Jan 2009 was $195,000 vs. $260,000 in 2008 (-25.0%)

Median sales price in Feb 2009 was $159,900 vs. $218,500 in 2008 (-26.8%)

Median sales price in Mar 2009 was $209,900 vs. $220,500 in 2008 (-4.8%)

Median sales price in Apr 2009 was $240,000 vs. $233,000 in 2008 (+3.0%)

Median sales price in May 2009 was $230,500 vs. $279,500 in 2008 (-17.5%)

Median sales price in Jun 2009 was $193,230 vs. $231,000 in 2008 (-16.4%)

Median sales price in Jul 2009 was $175,100 vs. $190,000 in 2008 (-7.8%)

Median sales price in Aug 2009 was $233,500 vs. $285,000 in 2008 (-18.1%)

Median sales price in Sep 2009 was $215,000 vs. $197,500 in 2008 (+8.9%).

Wareham sales volume has
increased by 44 through the 3rd quarter of 2009 compared to 2008, while the Median sales price in Wareham Massachusetts has dropped by an average of 10.2%. 

Wareham Massachusetts Average Sales Price for Single Family Homes

Single Family home statistics for the month of October
is showing 260 current listings, with 20 under agreement, and 23 sold to date.

With the $8,000 tax credit nearing the deadline for closing on or before November 30, 2009, it will be interesting to see if sales spike in October and November and what impact it will have on pricing. Stay tuned.
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Rainmaker
350,080
Esther (Essie) Cruz
Weichert Realtors, Buying and Selling Real Estate in Monmouth, Ocean & Middlesex Counties - Manalapan, NJ
Manalapan Marlboro, NJ Real Estate

Judy, interesting stats---thanks for sharing!

Oct 31, 2009 11:30 AM #1
Rainmaker
1,317,857
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Judy -- it is difficult to predict what is going to happen.  It looks like the tax credit will be extended in some form, but it is not a done deal.

Oct 31, 2009 01:06 PM #2
Rainmaker
373,490
Judy Jennings
Top Agent Plus - Middleboro, MA
Tap into Judy's real estate expertise & resources.

Esther - Thank you. I have been meaning to get these put together for a long time. Analyzing data can be a dry subject when you are crunching the numbers, but very interesting once it is completed.

Oct 31, 2009 01:18 PM #3
Rainmaker
373,490
Judy Jennings
Top Agent Plus - Middleboro, MA
Tap into Judy's real estate expertise & resources.

Joan - I know exactly what you mean. I have noticed a "lull" as some home buyers get back on the fence waiting for the government to make a final ruling. Why buy a second home now, if there is a possibility that the tax credit will be expanded to include everyone (to some degree) with restrictions, of course.

Oct 31, 2009 01:22 PM #4
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Rainmaker
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Judy Jennings

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