LEXINGTON REAL ESTATE - FOR THE MONTH OF AUGUST 2011 |
Here is what is happening in Real Estate Market of LEXINGTON, MA for the month of AUGUST 2011. Please note that this statistics is for SINGLE FAMILY HOMES only. (SOURCE: MLSPIN)
This table compares the real estate market in LEXINGTON, MA for the month of AUGUST last year and this year.
| AUGUST 2010 | AUGUST 2011 | Trends | |
| Number of Homes Sold | 37 | 42 |  |
| Median Sale Price | $740,000 | $717,500 |  |
| Averge Sale Price | $776,586 | $873,688 | |
| Days on Market | 99 | 91 | |
| Sale Price to List Price Ratio | 97 | 98 | |
| Total Volume | $28,733,700 | $36,694,900 | |
The number of sales are up - and so is total sales volume. But there is a big impact on median and average prices - one of them is down (median price) marginally and one of them is up (average sales price), almost $100,000 more than last year. The reason being, few homes sold during the month are sold at higher price. It's all the good news considering we hear it otherwise - based on number of sales. Days on market for these homes have down too whereas sale price to list price ratio is up - the other reason to celebrate this market!
Overall, compared to last August, it's a great market - lot of improvement on number of sales despite lower median price, and high average price. This is what one should look forward to every month.
Let's take a look at this chart that describes the trends for LEXINGTON, MA market over last year(courtesy: AltosResearch).
After a major drop in inventory before spring, median price is not much different. We do not see a big plunge or rise in median price for this market - the reason being the demand for the town. Inventory went up during the summer and is now going down, showing the stability of the market in this town.I expect the trend to be the same even in next spring.
Feel free to reach me should you have any question about this.
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