Wakefield Active Listings listing data reflects an increase in market inventory by 31.5% when compared to last year’s year-end stats. There are currently one hundred-eleven residential homes available for purchase in Wakefield, fifty-four offer waterfront and/or water access; five condominium units; eighty vacant land parcels and eight commercial properties. Year-end sales volume is up 28.2% over last year, with a modest decrease in the average sales price by .08%.
Pending and contingent sales reflect an increase over last year’s activity by 8.9% and 59%, however completed sales are not keeping in line with the increase. There are apparently a number of pending and contingent sales that didn’t make the count of successful sales; one can only surmise that not all of the under contract transactions are making it through the inspection and/or financing contingencies. Interest rates remain at a lifetime low, the overall market remains soft – buyers with the means to purchase are in the best position during this continued time of market uncertainty.
Year-end 2010 vs. Year-end 2011 Residential Market
- 325 New Listings… up 31.5%
- 117 Homes Back on the Market…down 7.8%
- 85 Pending Sales…up 8.9%
- 97 Contingent Sales…up 59%
- 248 Expired Listings…down 1.1%
- 33 Listings were Withdrawn…down 45.9%
- 109 Residential Homes resulted in a successful close…up 28.2%
- Average Price Sold Homes…$211,629., down .08%
- Average DOM (Days on the Market) 157…decreased by 34% or 82 days
- Lowest Sales Price…4319 Province Lake Road, Wakefield $30,000.
- Highest Sales Price…145 Virginia Lane, Wakefield $900,000. / 585’ water frontage on Pine River Pond
Year-end 2010 vs. Year-end 2011 Vacant Land Market
- 80 New Listings… down 10%
- 50 Listings Back on the Market…down 19.3%
- 8 Pending Sales…down 46.6%
- 0 Contingent Sales…changed by 2 units
- 129 Expired Listings…up 14%
- 7 Listings were Withdrawn…up 133%
- 7 Vacant parcels resulted in a successful close…down 50%
- Average Price for Parcels…$35,541., down 61%
- Average DOM (Days on the Market) 109…decreased by 76% or 346 days
- Lowest Sales Price… Pine Island Road, Wakefield $20,000. / .15 ac on Balch Lake (non-buildable)
- Highest Sales Price…Long Ridge Road, Wakefield $85,000. / 30 acres
Based on information from the Northern New England Real Estate Network, Inc. for the period of January 1st through December 31st, 2010 & January 1st through December 31st, 2011.
Contributed by Kathleen M. Kizer, REALTOR, ABR, GRI, ePRO, Associate Broker | Costantino Real Estate, LLC. “Your Lakes Region Professional” | Certified Residential Appraiser, NHCR-616, Wolfeboro Appraisal Services
For further inquiries or questions please e-mail to Kathleen@LakesRegionBroker.com or call 603-539-3200.