The Trend in Home Sales in Kingston MA - Improving, or...?
Home prices in Kingston on average are rising! Home prices have risen 5.8% since July of 2009.
The current average listing price of homes for sale in Kingston MA is $400,825, down 4.4% from a month ago. Compare this to the current median sales price of $282,357 - where half of sales are above this amount and half below it.
Prices of 2 bedroom homes are down from year ago levels while prices of 3 and 4 bedroom homes are up. Prices of 2 bedroom homes are down 26.0% while prices of 3 bedroom homes are up 7.8% and 4 bedroom homes are up 9.6% from year ago levels. Below is a chart of the trend of median prices of homes for sale in Kingston 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 2 bedroom home in Kingston, you can probably find a bargain. Still, lowball offers won't cut it in a market like this.
However, if you're looking for a 3 or 4 bedroom home in Kingston, you better not mess around too much. While sales are overall are relatively flat, prices of these homes are climbing. 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 Kingston 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 Kingston or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.