The Trend in Home Sales in East Bridgewater MA - Improving, or...?
Home prices in East Bridgewater on average are falling! Home prices have fallen 8.0% since July of 2009.
The current average listing price of homes for sale in East Bridgewater MA is $294,511, up just 0.5% from a month ago. Compare this to the current median sales price of $230,000 - where half of sales are above this amount and half below it.
Prices of 2, 3 and 4 bedroom homes are all down from year ago levels. Prices of 2 bedroom homes are down 15.1% while prices of 3 bedroom homes are down 26.7% and 4 bedroom homes are down 34.3% from year ago levels. Below is a chart of the trend of median prices of homes for sale in East Bridgewater MA over the past 5 years through July 2010:
Although cyclical, the number of sales for all homes have been fairly flat over the past 5 years:
So what does all this mean? Well, if you're looking for a home in East Bridgewater, you can probably find a bargain. Still, lowball offers won't cut it in a market like this. Sellers aren't in control of the market either, so both buyers & sellers should be reasonable when negotiating.
You can still buy a home with no money down with a VA Loan or with a USDA Rural Development Home Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. With a MassHousing loan, you can purchase a home with as little as 3.0% down. When you're ready to buy a home, find out how much house you can afford to buy in East Bridgewater or in the surrounding area.
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 East Bridgewater or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.