Needham Market Where have all the listings gone?

The inventory in Needham is a low as 76 homes on the market between $329,000 and the highest price is $3,500,000. The average list price is $1,000,548. Last month 11/9/08 the inventory was 96. In one month there were 22 homes that went under agreement. Several between and 10 days on the market. Of course some were on a lot longer but there is a trend here.

Homes come on the market and move quickly especially if they are priced right. There were 19 homes that closed during the last month ranging from $350,000 to $1,355,000. Average days on the market was 91. The average selling price was $766,368.

I have found that taking buyers to other nearby communities the homes, like Medway are having multiple offers. I just had that occur twice with recents buyers. The market is changing. This a slow time of year too normally.

Written by: Pat Baker, Real Estate Expert - Needham, MA Coldwell Banker Residential Brokerage. Serving my clients in: Needham, Dover, Wellesley, Weston, Natick, South Natick, Dedham, Westwood, Sherborn, Holliston, Millis, Medway, & Medfield www.patannbaker.com 617-435-3471