Maynard MA - Fewer Homes, Lower Prices Make for Active Real Estate Market

It appears that lower prices and fewer homes for sale are starting to have a positive effect on the single family housing market in Maynard MA. The spring market has remained very active since April 1st with only 34 active listings down from 54 last year at this time; six of which have accepted offers with contingencies to clear. Additionally, there are 16 single family homes with sales pending; these will close in the next month or two. The median list price for pending sales is $324,200; the average is $323,200; and while we won't know the actual sale prices until closing, we do know that the average list to sale price ratio year-to-date is 92 percent of original list price and 95% of the average reduced list price.

Prices for single-family homes in Maynard range from $111,000 to $599,000; the median list price is $299,900; the average is $335,841. Last year at this time the median list prices was $337,350; the average was $356,850. Time on market is also lower - 118 days down from 131. Year to date, there have been 26 closed sales compared with 20 for the same period last year.

The condo/townhouse market continues to offer good values, but fewer on the market - 25 compared with 33 at this time last year. Prices range from the 170s for apartment-style condos; $199,900 to $298,900 for townhouse re-sales at desirable Deer Hedge Run, Oak Ridge, and Apple Ridge, where there are only 7 available compared with 13 last year at this time; and new construction townhomes starting at $329,000. There have been 7 closed sales so far in 2009 compared with 5 for the same period in 2008.

Those who waited may buy for a lower price, but they may have missed out on some good choices; a lot of sellers are still holding off going on the market. Less supply will eventually will eventually put upward pressure on price; recent sales are already selling close and sometimes above the asking price as there have even been some multiple offers. If you're interested in becoming a home owner in Maynard, be prepared to step-up or you may miss out!

To find out what homes are available in Maynard and the nearby towns west of Boston, visit www.marilynmessenger.com your on-line source for real estate listings, news and information or call Marilyn Messenger, CRS at RE/MAX Landmark Realtors at 508-596-3501 for personal real estate services.

*Data Source - MLSPIN (Multiple Listing Service Property Information Network.)