Bedford, MA

Below I have given the facts and figures of properties in BEDFORD MASSACHUSETTS that have been sold in the months of October as well as November in 2008.

In BEDFORD MASSACHUSETTS in the month of October, there were 12 SINGLE FAMILY HOMES sold. The average LISTING price per property was $778,433. The average SOLD price per property was $746,254. The average DAYS ON MARKET was 88.08.

In BEDFORD MASSACHUSETTS in the month of November, there were 6 SINGLE FAMILY homes sold. The average LISTING price per property was $544,717. The average SOLD price per property was $538,377. The average DAYS ON MARKET was 44.83.

The number of single family homes sold in Bedford, MA during the month of November decreased from 8 sold (2007) to 6 homes sold in 2008.

The average selling price also decreased from $644,209 in 2007 to $538,377 in 2008.

The average DOM (Days on Market) decreased dramatically to 45 days from 151 in 2007.

These two graphs show the Market report for Bedford MA starting in the year 2006 and ending presently. What is interesting to look at is that even though we are in a "down market", the average time on the market is significantly lower than the previous two years. Also a key point is that the price of homes is not down like much of the public thinks. The price is actually up 3% from last year and up 4% from 2006.

The number of single family homes sold in Bedford, MA during the month of October increased 50% from 8 sold (2007) to 12 homes sold in 2008.

The average selling price decreased slightly from $755,475 in 2007 to $746,254 in 2008.

The average DOM (Days on Market) dropped significantly to 88 days from 121 in 2007.

Bedford's single family home sales market is having a strong summer, but may be running out of homes to sell. With August sales numbers in, the summer has been strong, volume is slightly low, but prices have been rising since the May low. The graph below shows a line for the median price and bars for the numbers of homes sold.

In the Single Family market, there were only 30 properties listed September 1. This represents a 32% decrease in inventory from the same time last year. August sales volume continued the summer surge with 14 home sales. Along with the increased volume the sales prices increased slightly. The average time on market dropped to only 57 days. The summer's spike in volume has reduced the supply of property to only 2 months, keeping the Bedford market in favor of those selling property. At this time the market is supply limited and needs new inventory to maintain volume levels. Counter to the national trends the market is in need of sellers.