Marblehead MA market stats for single family home sales as of 9/30/2010 show good news and some not-so good news in year to year quarterly comparisons.
As a residential real estate appraiser and broker in the Marblehead market area I love to crunch the numbers to keep abreast of our market trends. I've been anxiously waiting to analyze the 1st quarter data since the end of the home buyer tax incentives for the single family home market here in Marblehead (zip code 01945).
According to MLSPIN in the Marblehead Zip Code 01945 all single family sales are as follows:
- July 1, 2010 to Sept. 30, 2010 - 44 sales, sale priced $275,000. to $2,905,000., avg. list price $716,036., avg. sale price $672,866., avg. days on market 113.02.
- July 1, 2009 to Sept. 30, 2009 - 52 sales, sale priced $250,000. to $1,600,000., avg. list price $568,340., avg. sale price $529,202., avg. days on market 110.65.
After reviewing the data and comparing the 2010 to the 2009 quarters are my following observations:
- The median single family sale price in Marblehead rose approximately 4.5% from $484,000. to $505,800. - Good News!
- The average list to sale price per cent ratio rose from 93.11% to 93.97% - Good News!
- The average days on market increased very slightly by 2.37 days - So-So News.
- There was an approximate 15.4% decline in sales volume from 52 sales to 44 sales - Not So Good News.
- As of 9/30/2010 there were 121 single family listings active on the market in MLSPIN or approximately 8.25 months of inventory on the market - Not So Good News.
My observations are food for thought and discussion. Did the end of the home buyer tax credit have an effect on the Marblehead single family home market? Where is the Marblehead single family home market trending? Time will tell.
By the way this is my 1st blog so if I've messed up here please let me know and better yet, let me know how to unmess it up. Thanks!
John R. Crosby, Realtor - Real Property, Inc. - Marblehead, MA 01945 - www.RealProInc.com - John@RealProInc.com - 781-639-1155
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