My market report for Needham compares this same time period to last year.
4/5/09 to 5/5/09 as it compares with 4/5/08 with 5/5/08
There were 20 properties that sold this year versus last year 15 were sold.
The average days on market this past month and year was 127 but the year before was 77
The average sale price this time period was $594,950
While last year same time period was $748,707
The median price this year is $564,500
While last year it ws $665,000
The average price this year for 4/5/2009 to 5/5/2009 was $594,950
While last year the average price was $748,707
The Total Market Volume this year $11,899,000
While last year it was $11,250,000
The average sales price this year was $594,950
While las year the average sales price was $777,113
The sales are as follows for this past month:
1 at $345,000 at 99% of list price and 93% of Original price
2 sold in the $361,000 and $392,000 at 91% of list price and 87% of original price
2 sold at $439,000 and 1 at $430,000 at 98% of list price and 95% of original price
2 sold at $460,000 and the other at $465,000 at 98% of asking price and 95% of original price
4 properties sold in the 500k market at $550,000, $520,000, $595,000, and $579,000
--the average list price came at 97% of the list price and 95 % of the original price
5 properties sold in the 600K market at $683,000, $666,500, $633,500 and $675,000, $604,000
--the average list price came at 97% of the list price and 95% of the original price
1 sold at $735,000 and that was 90% of list price and 74% of the original price 580 days***
1 sold at $947,000 and that was 96% of list price while 81% of original price
1 sold at $1,380,000 which was 99% of list price and 100% of original price - 167 days and started at $1,375, and was changed to $1,399,000
Overall the properties sold at 97% of the list price and 93% original. It was scewed by the 7% at the property that sold for $735,00 which started at $995,000. The price was clearly off at the beginning of the marketing of the property. What still remains a constant in this real estate market is to be priced right in the beginning to save the ultimate agony of what happened in the case of this property.
The strongest part of this market are the properties from $500,000 to $699,999 price range
There are 122 properties on the market today. The properties seem to move in the $500k to $700k range. The $8000 tax credit and the historically low interest rates have brought many into the market. There are some great homes in Needham for every price range.
The breakdown of price as follows:
1 property at $289,000
2 between $350,000 and $399,999
5 between $400,000 and $449,999
7 between $450,000 and $499,999
14 between $500,000 and $599,999
13 between $600,000 and $699,999
10 between $700,000 and $799,999
5 between $900,000 and $999,999
39 between $1,000,000 and $1,499,999
11 between $1,500,000 and $1,999,999
2 between $2,000,000 and $2,499,999
3 between $2,499,999 and $2,999,999
2 between $3,000,000 and $3,999,999
The average days on market are at 97 days
Median Price $939,000
Average Price $1,067,941
There are 27 properties pending with the highest concentration of the market at two price points
7 pending salesbetween $500,000 and $599,999 and 8 between $1,000,000 and $1,499,999.
There were 42 price changes and 16 of those were between $1,000,000 and $1,499,999
With the overall price changes coming to 3.88%
Pat Baker, REALTOR(R), ABR(R), GREEN(R) Coldwell Banker Residential Brokerage - Needham, MA - Serving my clients primarily in Needham, Wellesley, Dover but extending to the MetroWest Boston areas. 617-435-3471 http://budurl.com/GreenHomeTips
