Bourne MA - Market Report 2009 3rd Quarter

Single Family home sales have had a modest increase over the past three quarters of 2009 in Bourne, Massachusetts. First quarter started off with 238 listings, 24 sales and an inventory supply of 29.8 months.

Second quarter saw an increase in inventory (+18) along with an increase in sales (+14) thus reducing the months supply to 20.2 which is a significant reduction from first quarter.

Third quarter also had an increase in inventory (+18) plus an increase in sales (+10) putting the supply down to 17.1 months.

Median sales price in Jan 2009 was $249,950 vs. $635,000* in 2008 (-60.6%)

*1 property sold over $1,200,000 in 2008

Median sales price in Feb 2009 was $268,450 vs. $414,900 in 2008 (-35.3%)

Median sales price in Mar 2009 was $299,500 vs. $325,425 in 2008 (-8%)

Median sales price in Apr 2009 was $339,000 vs. $285,000* in 2008 (+18.9%)
*6 properties sold under $250,000 in 2008

Median sales price in May 2009 was $347,500 vs. $311,000 in 2008 (+11.7%)

Median sales price in Jun 2009 was $312,000 vs. $309,500 in 2008 (+0.8%)

Median sales price in Jul 2009 was $305,000 vs. $360,000 in 2008 (-15.3%)

Median sales price in Aug 2009 was $255,000 vs. $284,750 in 2008 (-10.4%)

Median sales price in Sep 2009 was $244,750* vs. $375,000 in 2008 (-34.7%).
*8 properties sold under $250,000 in 2009

Bourne sales volume has decreased by 8 through the 3rd quarter of 2009 compared to 2008, the Median sales price in Bourne Massachusetts has dropped by 14.8%.

Single Family home statistics for the month of October is showing 164 current listings, with 6 under agreement, and 8 sold to date.

With the $8,000 tax credit nearing the deadline for closing on or before November 30, 2009, it will be interesting to see if sales spike in October and November and what impact it will have on pricing. Stay tuned.