The Trend in Home Sales in Seekonk MA - Improving, or...?
Home prices in Seekonk on average are falling! Home prices are down 9.6% since August of 2009.
The current average listing price of homes for sale in Seekonk MA is $350,938, down 1.3% from a month ago. Compare this to the current median sales price of $253,111 - where half of sales are above this amount and half below it.
2 bedroom homes are selling for more than they were a year ago. However, 3 and 4 bedroom homes are selling for less. Prices of 2 bedroom homes are up 8.1% from year ago levels while prices of 3 bedroom homes are down 22.5% and 4 bedroom homes are down 8.5%. Below is a chart of the trend of median prices of homes for sale in Seekonk MA over the past 5 years through August 2010:
The number of sales for all homes for sale in Seekonk is up 3.1% from year ago levels:
So what does all this mean? Well, if you're looking for a 2 bedroom home in Seekonk, you better not mess around too much. Prices and sales of homes are climbing. However, you can probably find a bargain in 3 and 4 bedroom homes as prices are down.
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. 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 Seekonk 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 Seekonk or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.