Quincy MA Monthly Real Estate Statistics
June 2011 May 2011 June 2010
Homes Sold: 42 43 45
Original List Price: $325,604 $300,962 $354,360
Final List Price: $311,700 $291,630 $344,126
Average Sold Price: $296,624 $277,867 $328,921
Average Days on Market: 104 92 71
Median Sales Price: $296,500 $285,900 $305,000
Home Sold: 21 16 42
Original List Price: $258,862 $238,095 $325,364
Final List Price: $254,033 $226,189 $304,169
Average Sold Price: $245,236 $220,619 $295,157
Average Days on Market: 116 156 138
Median Sales Price: $237,250 $208,500 $275,000
Homes Sold: 11 9 9
Original List Price: $467,500 $353,954 $464,706
Final List Price: $448,690 $351,732 $459,706
Average Sold Price: $433,809 $334,500 $438,378
Average Days on Market: 93 68 56
Median Sales Price: $450,000 $342,500 $433,500
As the Statistics show the number of Single Family home sales have remained steady with 42 in June and 43 in May. May of 2010 had 45 single family sales. Condo and Multi-Unit sales are up slightly over May, but condo sales are still well below June 2010 levels.
Prices have increased for single-family, condos and multi-family in June compared with May. It looks like prices are going to continue climbing at least in the near future as Foreclosures have slowed down dramatically.
The number of foreclosures coming on the market has dropped significantly. This may be in part due to the banks robo-signing scandal. If that is the case, there should be more coming on in future months as they are straightened out and released onto the market. In that case, there could be an impact on prices. If the trend continues to slow down, meaning fewer and fewer foreclosures coming on the market, we should see a turn around with prices starting to head upwards.
Properties Currently Under Agreement in Quincy MA:
Single Family: There are currently 49 properties under agreement compared to 54 last month. The Average Listing Price is $330,185, an increase over last month.
Condos: 34 under agreement with an Average List Price of $244,321 which is slightly lower than last month.
Multi-Unit: 17 under agreement, same as last month with an Average List Price of $360,394.
My thoughts are that we are going to see a price increases for the near future. The unemployment rate in Massachusetts has dropped to 7.8% compared to the National Average of 9.2%. As more jobs are created, home sale should also increase. The trend appears to be heading in that direction.
Watch for next month’s Report to see if the price increases continue.