WOBURN REAL ESTATE - FOR THE MONTH OF OCTOBER 2011 |
Here is what is happening in Real Estate Market of WOBURN, MA for the month of OCTOBER 2011. Please note that this statistics is for SINGLE FAMILY HOMES only. (SOURCE: MLSPIN)
This table compares the real estate market in WOBURN, MA for the month of OCTOBER last year and this year.
| OCTOBER 2010 | OCTOBER 2011 | Trends | |
| Number of Homes Sold | 18 | 10 |  |
| Median Sale Price | $295,750 | $355,000 |  |
| Averge Sale Price | $317,867 | $387,200 | |
| Days on Market | 86 | 119 | |
| Sale Price to List Price Ratio | 95 | 96 | |
| Total Volume | $5,721,600 | $3,871,999 | |
The number of sales are down - by 8. But there is a pretty good impact on median and average prices. Median price rose marginally whereas the average sales price is up a lot! Almost 20%. That's a good sign.
The days on market for a home has gone up - another negative impact on current market, I guess. Let's hope the trend changes soon - because overall I see a drop of almost 40% in total volume as compared to a year before.
Overall, compared to last OCTOBER, it's a surely not a good market - but this may change soon and catch up before the end of the year.
Let's take a look at this chart that describes the trends for WOBURN, MA market over last year(courtesy: AltosResearch).
After a major drop in inventory before spring along with median price, not surprisingly enough, the median price went up, perhaps resulting into increase in inventory. Around summer time though, the increase in inverntory has to reflect on median price - and that's what you see here - a drop in median price, eventually: Increased inventory and lower median price. Though inventory is increased in last few months, median price drop is not a good sign. I expect the trend to be reveresed next spring - and till then, you may see drop in median price and inventory following the median price. A typical seasonal trend here.
Feel free to reach me should you have any question about this.
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