BURLINGTON REAL ESTATE - MARKET REPORT FOR OCTOBER 2011

By
Real Estate Agent with Keller Williams Realty
http://actvra.in/nTr

BURLINGTON REAL ESTATE - FOR THE MONTH OF OCTOBER 2011

Here is what is happening in Real Estate Market of BURLINGTON, MA for the month of OCTOBER 2011. Please note that this statistics is for SINGLE FAMILY HOMES only. (SOURCE: MLSPIN)

This table compares the real estate market in BURLINGTON, MA for the month of OCTOBER last year and this year.

  OCTOBER 2010 OCTOBER 2011 Trends
Number of Homes Sold 13 15
Median Sale Price $443,000 $278,000
Averge Sale Price $439.692 $323,593
Days on Market 125 71
Sale Price to List Price Ratio 98 95
Total Volume $7,716,000 $4,853,900

The number of sales are up - just by 2. Median price is down a lot - I mean, a lot! I am sure this is due to some low end inventory, also relfected in lower average sales price. Despite the lower prices, there is a good news - the homes are selling much quickly - 54 days sooner than what it was last year. Of course, total volume of sales is down drastically, too.

Overall, compared to last OCTOBER, it's a really 'sad' and bad market - a lot of improvement on number of sales is needed for next month - along with median price, and average price. This is what one should not look forward to - and I hope the things change next month.

Let's take a look at this chart that describes the trends for BURLINGTON, MA market over last year(courtesy: AltosResearch).

After a major drop in inventory before spring, surprisingly enough, the median price remained almost stable - and in fact, with reduced inventory, the median price went up slightly only - or perhaps too much for buyers to accept it! So, less sales, more inventory once again in summer - and the effect is shown in lower median prices - going down further this month! That's more like a realistic market and I expect the graph to be more stable now - for both, price and inventory. I expect the trend to be reveresed sooner than next spring.

Feel free to reach me should you have any question about this.

See you next month - with another report to on how BURLINGTON, MA Real Estate market is doing

PREVIOUS MONTH"S BURLINGTON MARKET REPORT

SEARCH ALL AVAILABLE BURLINGTON HOMES FOR SALE, LIKE I DO!

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Rainmaker
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Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Praful.   Execllent real estate market report for Burlington MA.   Info that Buyers and Sellers appreciate.

Nov 30, 2011 07:43 AM #1
Rainmaker
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Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Wow Praful that is an excellent market report I hope it works for you enjoy the details and graphs. I am sure your customers do as well.

Nov 30, 2011 08:28 AM #2
Rainmaker
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Cathy Bureau
www.GreenHomeRealty.com - Alamo Heights, TX
Your Personal Real Estate Concierge

Interesting points. I think I agree with you that somebody put the word out that there's nothing on the market so you can list for whatever you want. Well,not exactly so they discovered, but maybe got more then what they would have netted with a higher inventory. 

Nov 30, 2011 09:22 AM #3
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Praful Thakkar

Andover, MA: Andover Luxury Homes For Sale
What did my neighbor's home sell for?
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