Below are the statistics for the City of Quincy as a whole, according to the Multiple Listing Service.
October 2006
Single Family: Homes Sold: 39 - Average Listing Price: 386,485 - Average Sales Price:367,405 - Average Days on the Market: 99.26
Condos: Homes Sold: 38 - Average Listing Price: 296,824 - Average Sales Price: 285,807 - Average Days on the Market: 92.18
Mult-Unit: Homes Sold: 14 - Average Listing Price: 508,600 - Average Sales Price: 475,625 - Average Days on the Market: 134.21
November 2006
Single Family: Homes Sold: 37 - Average Listing Price: 375,051 - Average Sales Price: 358,292 - Average Days on the Market: 83.16
Condos: Homes Sold: 38 - Average Listing Price: 277,313 - Average Sales Price: 267,298 - Average Days on the Market: 87.34
Multi-Unit: Homes Sold: 8 - Average Listing Price: 457,188 - Average Sales Price: 435,250 - Average Days on the Market: 79.75
December 2006
Single Family: Homes Sold: 23 - Average Listing Price: 341,909 - Average Sales Price: 328,126 - Average Days on the Market: 125.83
Condos: Homes Sold: 39 - Average Listing Price: 300,907 - Average Sales Price: 288,582 - Average Days on the Market: 151.54
Multi-Unit: Homes Sold: 10 - Average Listing Price: 450,440 - Average Sales Price: 418,903 - Average Days on the Market: 89.70
January 2007
Single Family: Homes Sold: 20 - Average Listing Price: 359,715 - Average Sales Price: 339,925 - Average Days on the Market: 104.25
Condos: Homes Sold: 33 - Average Listing Price: 289,185 - Average Sales Price: 278,694 - Average Days on the Market: 131.45
Multi-Unit: Homes Sold: 5 - Average Listing Price: 475,560 - Average Sales Price: 460,180 - Average Days on the Market: 60.20
February 2007
Single Family: Homes Sold; 23 - Average List Price; 356,030 - Average Sales Price; 342,761
Average Days on the Market; 146.74
Condos: Homes Sold; 24 - Average List Price; 308,996 - Average Sales Price; 296,192 - Average Days on the Market; 109.42
Multi-Unit: Homes Sold; 6 - Average List Price; 512,300 - Average Sales Price; 470,250 - Average Days on the Market; 76.33
March 2007
Single Family: Homes Sold; 28 - Average List Price; 380,546 - Average Sales Price; 364,013 - Average Days on the Market; 116.14
Condos: Homes Sold; 42 - Average List Price; 284,681 - Average Sales Price; 273,899 - Average Days on the Market; 119.40
Multi-Unit: Homes Sold; 9 - Average List Price; 446,932 - Average Sales Price; 423,889 - Average Days on the Market; 99.22
April 2007
Single Family: Homes Sold; 28 - Average List Price; 365,364 - Average Sales Price; 350,443 - Average Days on Market; 113.18
Condos: Homes Sold; 53 - Average List Price; 265,694 - Average Sales Price; 258,205 - Average Days on Market; 119.91
Multi-Unit: Homes Sold; 4 - Average List Price; 469,925 - Average Sales Price; 454,750 - Average Days on Market; 59.75
May 2007
Single Family: Homes Sold: 48 - Average List Price: 436,947 - Average Sales Price: 413,863 - Average Days on the Market: 96.94
Condos: Homes Sold: 49 - Average List Price: 282,128 - Average Sales Price: 273,596 - Average Days on the Market: 146.76
Multi-Unit: Homes Sold: 4 - Average List Price: 461,475 - Average Sales Price: 447,572 - Average Days on the Market: 58.75
June 2007
Single Family: Homes Sold: 52 - Average List Price: 378,008 - Average Sales Price: 363,896 - Average Days on the Market: 88.25
Condos: Homes Sold: 41 - Average List Price: 303,070 - Average Sales Price: 292,276 - Average Days on the Market: 131.46
Multi-Unit: Homes Sold: 8 - Average List Price: 458,375 - Average Sales Price: 433,125 - Average Days on the Market: 66.50
Based on these statistics, you can see prices came down toward the end of the year, but have started 2007 heading back up. Average Selling Prices of Single Family home prices have increased for 3 consecutive months after bottoming out in December. Prices have gone up from Decembers low of 328,126 to 364,013 at the end of March 2007. Prices have unexpectedly dropped for Singles and Condos in April, while Multi-Unit prices have incresed.
Condo prices have been up and down as the number of condo units has remained steady. Inventory of Condos have actually dropped recently, and if that continues, prices will probably start heading up.
Multi-unit home prices went up in January and February before falling back down in March. Part of the reason is there were a couple of larger unit buildings that sold driving the average price up, and part of the reason is that the bulk of the market today is first time buyers typically buying the lower priced properties.
The trend does appear that prices are heading up. With low unemployment rates and interest rates remaining favorable, as well as the Spring Market, the housing market should start gaining steam. All the top Economists are predicting that housing prices are going to increase between this year and next, and the economic indicators are right in line.
The Summer Market is now here and is expected to be a very active market due to the cooler Spring.
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