Needham, MA

There certainly has been an uptick in the Needham market lately. The increase has been in Open House attendance and in properties going under agreement.

In the past 7 days 9 properties went under agreement. Of the 9 properties that went under agreement 7 of those were Coldwell Banker Residentail Brokerage agents. One of those properties was on the market just 2 days. Another property that has been on for 817 days finally sold.

Presently there are 78 active Single Family Homes on the Market in Needham. The price range is from $439,000 to $3,500,000. Average days on market 134 and the average price is $1,116,542.

In the last 7 days 3 new listings came on the market:

$499,000

$520,000 - which went under agreement in 2 days

$609,000

Prices are great. Interest rates are also great. Good time to buy a home in Needham.

The market report was prepared by: Pat Baker, Licensed Real Estat Broker Associate with Coldwell Banker Residential Brokerage of Needham, MA: Covering the MetroWest Area. Needham, Needham Heights, Wellesley, Weston, Westwood, Dover, Sherborn, Holliston, Dedham, Newton, Walpole, Norwood, Natick. www.patannbaker.com

Area Market Survey for Needham, Massachusetts

January 14 to February 14th 2008

Active Listings

84 Single Family homes for sale in Needham, MA ranging in price from $350,000 to $3,500,000

1 - $399,900 810 days on market

2 - $429,000 & $439,000 average days 71

2 - $479,000 & $499,000 average days 69

10 - ranging from $500,000 to $599,999 average days 72

15 - ranging from $600,000 to $699,999 average days 94

7 - ranging from $700,000 to $799,999 average days 72

5 - ranging from $800,000 to $899,999 average days 126

5 - ranging from $900,000 t0 $999,999 average days 122

23 - ranging from $1,000,000 to $1,499,999 average days 120

8 - ranging from $1,500,000 to $1,999,999 average days 324

2 - ranging from $2,000,000 to $2,499,999 average days 67

3 - ranging from $2,500,000 to $2,999,999 average days 297

1 - $350,000 with 91 days on market

3 Expired listings during that time

24 Properties had price changes with total of 25 price changes averaging -6.58% translating to -$66,687.50.

22 Pending/Under Agreement Listings average days on Market 90

11 Properties sold ranging from $484,000 to $1,225,000

Median Price: $749,000

Average Price $ 773,614

Average days on market 107

For the period of 2/14/07 to 2/14/08

#1 Brokerage in Needham is Coldwell Banker Residential Brokerage of Needham with 92 units sold and 107 sides.

Total Listings Selected: 350 Unit Dollar Volume: $529,580,772.00 * Unit Dolar Volume calculated using double count method.

For all you Real Estate Needs contact Pat Baker, Licensed Broker Associate with Coldwell Banker of Needham, Massachusetts: Serving Needham and Metro West which includes: Dover, Wellesley, Weston, Holliston, Sherborn, Dedham, Westwood, Newton. www.patannbaker.com

From the period of January 1 to January 21 there were 18 new listings coming on the market. There were 2 expired listings one in the $1,000,000 to $1,499,999 after 44 days and another property in the $600,000 to $699,999 which was on the market for 21 days.

The properties on the market are as follows:

2 single family homes between $450,000 and $499,999

1 single family home between $500,000 and $599,999

4 single family homes between $600,000 and $699,999

1 single family home between $700,000 and $799,999

9 single family homes between $1,000,000 and $1,499,999

1 single family homes between $1,500,000 and $1,999,999

Price changes averaged was -4.69%.

During that same period 8 sales happened as follows:

1 single family home $367,500

1 single family home $484,000

2 single family homes $504,000 & $556,000

2 single family homes $749,000 * $785,000

1 single family home $967,000

1 single family home !1,167,000

This average sales price to original list price was 88%.

There is total of 73 single family homes on the market with the lowest price at $375,000 and the

median price is $995,000. The highest price is $3,500,000. The average price is $1,120,597

during this 21 day period.

During that time there were 13 single family homes for sale in Needham, MA that went under agreement with of them which has already passed papers.

This weekend I did a survey just within our office. I asked 3 of my associates how there Open Houses went and

this was the report: 20 in attendance at a property that is listed at $799,000

35 in attendance at a property that is listed at $585,000 (first open house)

11 in attendance at a property that is listed at $1,399,000 (best open house so far)

I think that is pretty telling that the market in Needham continues to be active, properties are still selling and we are getting good attendance on a Sunday when there was a very important Patriot Football game.

Go Pat's!

Pat Baker, Licensed Real Estate Broker, Associate of Coldwell Banker Residential Brokerage of Needham, MA Buyer's Agent and Seller's Agent in the Needham, MA area along with Boston Suburbs of Wellesley, Weston, Dover, Newton, Natick, South Natick, Holliston, Milford, Sherborn, Dedham & Westwood. www.patannbaker.com

Well here it January 7, 2008. Generally a quiet time in real estate.

I just checked the latest report and there were 3 properties that went under agreement over the weekend.

As of yesterday there were 67 properties on the market ranging from $375,000 to $3,500,000. The heaviest concentration being 13 properties priced between $600,000 and $699,999. The other heavy concentration is the properties priced between $1,000,000 and $1,499,999 the total is 14. Median price is $889,000. Total single family homes on the market 65 as of this morning. The average days on market 145 days.

I will be reporting further later today on other stats for Needham, MA

Pat Baker, Realtor Associate of Coldwell Banker Residential Brokerage of Needham. Serving Needham, Wellesley, Dover, Dedham, Weston, Westwood, Natick, South Natick, Holliston, Sherborn www.patannbaker.com