The Trend in Home Sales in Bridgewater MA - Improving, or...?
Home prices in Bridgewater on average are rising! Home prices have risen 3.1% since June of 2009.
The current average listing price of homes for sale in Bridgewater MA is $306,818, down just 1.3% from a month ago. Compare this to the current median sales price of $268,000 - where half of sales are above this amount and half below it.
While prices of homes in Bridgewater on average are rising, 2 and 4 bedroom homes are selling for less. Prices of 2 bedroom homes are down 35.6% while prices of 4 bedroom homes are down 19.5% from a year ago. Prices of 1 and 3 bedroom homes are up. 1 bedroom homes are up 8.8% while 3 bedroom homes are up 8.4% from a year ago. Below is a chart of the trend of median prices of homes for sale in Bridgewater MA over the past 5 years through June 2010:
While cyclical, the number of sales have been increasing for all styles of homes in the past 5 years:
So what does all this mean? Well, if you're looking for a home in the town of Bridgewater, you better not mess around too much. Overall, sales are up, and prices of homes have risen in the past year. While sellers still aren't in control of this market, buyers should still be reasonable in their offers when negotiating.
You can still buy a home with no money down in Bridgewater with a VA Loan or with a USDA Rural Development Home Loan. With a MassHousing loan, you can purchase a home with as little as 3.0% down. And, with the FHA Mortgage program, you can purchase a home with as little as 3.5% down.
Be sure to contact me, Lew Corcoran, toll free at 1-800-984-3341, when you're looking to get pre-approved for a purchase of your next home in Bridgewater or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.