The Trend in Home Sales in Wareham MA - Improving, or...?
Home prices in Wareham on average are falling! Home prices have fallen 19.0% since June of 2009.
The current average listing price of homes for sale in Wareham MA is $413,771, up 1.2% from a month ago. Compare this to the current median sales price of $165,600 - where half of sales are above this amount and half below it.
Prices of 2, 3 and 4 bedroom homes are all down. Prices of 2 bedroom homes are down 22.1% while prices of 3 bedroom homes are down 25.3% and 4 bedroom homes are down 26.0% from year ago levels. Below is a chart of the trend of median prices of homes for sale in Wareham MA over the past year through June 2010:
While cyclical, the number of sales for 2 and 3 bedroom homes have been relatively flat over the past several years, but have been increasing over the past couple of months:
So what does all this mean? Well, if you're looking for a home in the town of Wareham, you better not mess around too much. Overall, sales are relatively flat, and prices of homes have fallen 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 Wareham 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 Wareham or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.
