The Trend in Home Sales in New Bedford MA - Improving, or...?

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The Trend in Home Sales in New Bedford MA - Improving, or...?

Home prices in New Bedford on average are falling - but just slightly - and appear to be stabilizing! Home prices have fallen 1.0% since July of 2009.

The current average listing price of homes for sale in New Bedford MA is $206,854, down just 1.1% from a month ago. Compare this to the current median sales price of $158,424 - where half of sales are above this amount and half below it.

2 and 3 bedroom homes are selling for less while prices of 4 bedroom homes are increasing. Prices of 2 bedroom homes are down 2.3% while prices of 3 bedroom homes are down 4.0% from year ago levels. However, 4 bedroom homes are up 16.3%. Below is a chart of the trend of median prices of homes for sale in New Bedford MA over the past 5 years through July 2010:

The number of sales for all homes have been increasing over the past 2 years:

So what does all this mean? Well, if you're looking for a 2 or 3 bedroom home in New Bedford, you can probably find a bargain as prices are down significantly the past couple of years. Still, lowball offers won't cut it in a market like this.

However, if you're looking for a 4 bedroom home, you better not mess around too much as sales and prices are overall are rising. 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. 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 New Bedford or in the surrounding area.

Be sure to contact me, Lew Corcoran, toll free at 1-800-941-5616, when you're looking to get pre-approved for a purchase of your next home in New Bedford or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.


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East Bridgewater, MA 02333
Phone: (508) 443-1332

Lew Corcoran, ASP®, IAHSP, IAHSP-CB
Accredited Home Staging Professional
Professional Real Estate Photographer

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Show All Comments
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Lew, looks like prices are maybe starting to stabilize. More homes selling is also a good sign. Congratulations on the feature.

Sep 01, 2010 01:47 AM #1
Pat Laracy Baker
Realty Executives Boston West - Holliston, MA
Pat Baker Dream Home Maker

Hi Lew, Such a great post.  So much terrific data and so helpful to the consumer.  Great going...

Sep 01, 2010 02:29 AM #2
Lenn Harley
Lenn Harley,, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Which is why I recommend that buyers consider the 4 bedroom model of new construction when possible. 

Sep 01, 2010 02:52 AM #3
Judy Jennings
Top Agent Plus - Middleboro, MA
Tap into Judy's real estate expertise & resources.

Lew - I really like the reports you put out for the local market. You educate your borrowers better than some real estate agents. Uh oh, hope I don't make anyone mad over that statement.....

Sep 01, 2010 02:59 AM #4
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Lew, you have provided excellent information here for buyers and sellers.  If I were in the market for a 2 bedroom rental, this looks like a good time to buy.

Sep 01, 2010 08:46 AM #5
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Lew  There is no question the 4 bedroom market will always be the firdt to recover

Sep 01, 2010 09:42 AM #6
Lew Corcoran, ASP®
Scena Home Staging & Decora Photography - East Bridgewater, MA
Home Stager & Real Estate Photographer

Oh wow! Look at all these comments. I never had a posdt about real estate market trends posted in the featured section before.

Michael - prices are stabilizing in some areas - but it yet remains to be seen in many other areas. Always remember that real estate is always local.

Pat, Lenn and Tammie - thanks for your input. They're always welcomed.

Judy - just doing my part to educate the consumers. It's always good to have another perpspective on the real estate market.

Karen - sometimes it's true, but not always. There are some areas up here in Massachusetts where 2 and 3 bedroom homes are doing better. There's really no rhyme or reason - it just "is."

Sep 02, 2010 03:56 AM #7
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Lew Corcoran, ASP®

Home Stager & Real Estate Photographer
Let Us Help You Sell Your Home or Listing for Top Dollar!