The Trend in Home Sales in Orleans MA - Improving, or...?

The Trend in Home Sales in Orleans MA - Improving, or...?

Home prices in Orleans on average are falling! Home prices have fallen 13.5% since June of 2009.

However, the current average listing price of homes for sale in Orleans MA is $851,952, up 5.4% from a month ago. Compare this to the current median sales price of $385,000 - where half of sales are above this amount and half below it.

2 and 3 bedroom homes are selling for less compared to a year ago. 2 bedroom homes are down 7.0% while 3 bedroom homes are down 17.8%. Below is a chart of the trend of median prices of homes for sale in Orleans MA over the last 5 years through June 2010:

Orleans Recently Sold Homes

While cyclical, the number of sales of 3 bedroom homes in Orleans MA has risen in recent months while sales of 2 bedroom homes are generally flat:

Orleans Recently Sold Homes

So what does all this mean? Well, if you're looking for a home in the town of Orleans, you may be able to find a bargain. While sales are overall are relatively flat over the last 5 years, prices of homes are down 11% of what they were 5 years ago.

Still, sellers aren't in control of the market, so both buyers & sellers should be reasonable when negotiating. Be sure to contact me, Lew Corcoran, toll free at 1-800-984-3341, when you're looking to get pre-approved for a purchase of your next home. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.