UPDATE- Natick Real Estate Market

By
Real Estate Agent with Andrew Mitchell & Company

Here is an update of my 9/23 post.  The numbers in BOLD are todays (11/17) numbers while the regular type are from my 9/23 post.

Active Listings                  Total Listings              Average Asking Price           Average Days on Market

Single Family                         128      111                     $627K   $647K                    141   111

Multi Family                              9                              $467K    $453K                     89   132

Condos                                  94       87                       $364K    $376K                   145    159

Homes Under Agreement   Total Listings             Average Asking Price            Average Days on Market

Single Family                          25      27                       $641K     $557K                    110    81

Multi Family                             4                              $435K      $422K                    285    58

Condos                                  19      23                      $630K      $562K                     56     111

Homes Sold in Last 6 Months      Total         Average Asking Price     Average Actual Price      Avg Days on Market

Single Family                            193    176        $537K    $561K              $522K  $544K                90   83

Multi Family                                 6      9          $472K    $419K               $424K  $393K              240  235

Condos                                     83     65         $339K     $323K                $327K   $313K             118  116

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So, what does this tell us?

The inventory of Single Family homes is down, Asking Price is Up and Days on Market is down.  There is some good news in the SOLD section for Single Family Homes as well.  The Actual Sold Price has gone up $22K and Days on Market is down 7 days.

The Multi Family market.  Prices are down pretty much across the board. Days on Market for Active listings has gone up while DOM for Multi's Under Agreement took a huge dip. DOM for Sold Multi's was pretty much unchanged but the Asking and Actual prices are down.

The Condo Market had a decrease in inventory, increase in Days on MArket and a decrease in the Actual Sales price.

If you are thinking of selling your house make sure you price it properly.  It is a business transaction not a personal deal.  While your many happy years in your house are real and all the work you have put into your house over the years have added value, the Sell Price will reflect what the market will bear.  There is a lot of data available to determine that number.  One last thing about pricing....it is a fact that houses which are over priced take longer to sell and get a lower Sales Price than if it were priced appropriately when first listed. 

If you are in the market to buy a new home, work with a realtor who can help research comparable home sales so you make an intelligent offer.

Natick Common

This report was complied using data from MLSPIN.  It does not include FSBO.

I'd love to hear comments and questions.

Posted by

Ed Hughes, MBA

Re/Max HomeFinders

264 N. Main Street

Natick MA 01760

617-875-4132

www.efhughes.com

"Referrals are the cornerstone of my business, Thank You"

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