Sturbridge Year-End Real Estate Report for 2011

By
Real Estate Agent with RE/MAX Professional Associates, with offices in Sturbridge, Charlton, Auburn, Spencer, and Shrewsbury

Sturbridge Year-End Real Estate Report for 2011

 

How did the real estate market perform in 2011 in Sturbridge, Massachusetts?  In 2011, we saw 69 single family home sales at an average price of $250,000.  As the charts below show, the number of homes sold in 2011 was the lowest in the past decade; however, the average sale price stayed fairly stable.

 

sturbridge home sales graph

sturbridge home prices

For condominium sales, Sturbridge also saw some stabilization.  Thirteen condos were sold in 2011, with an average sale price of $184,000.  The number of units sold has remained similar to the past three years, with a fairly stable average sale price.

sturbridge condo sales graph

sturbridge condo sales graph
Data source for all graphs:  MLS PIN

Influencing Factors

Several natural disasters in 2011 certainly had an effect on real estate sales in Sturbridge.  Many citizens were focused on stabilization and recovery efforts following severe snow storms and a devastating tornado.  Add in the general state of the economy and a continued distressed property market, and we saw a triple threat to property sales in Sturbridge this year.

Also remember that in early 2010 we had a home buyer tax credit, which created a short increase in activity and sale prices for that time period.  We are now back to 2009 market prices.

 

Current Market and Predictions for 2012

As of this writing (January 8, 2012), the inventory in Sturbridge is low.  There are currently 61 homes actively listed on the market.  Of these, 8 have accepted offers but are accepting backup offers; 7 of these are priced lower than $250,000, and 5 are short sales. 

Only one property is currently under contract, also a short sale.

There are 5 foreclosed homes currently active on the market.

Ten condominiums are active on the market; one of these is a foreclosed property.  There are no condos with offers pending at this point.

For 2012, I predict a continued slow but stabilizing market in Sturbridge.  Employment in this area is improving, and with that will come the consumer confidence needed to make people feel comfortable purchasing their own homes.  Home sellers should prepare for having to continue to compete with low-priced distressed properties by getting their homes in top condition and setting realistic prices.  Home buyers should prepare for strict lending rules by getting their financial affairs in spotless condition.

 

If you have questions about buying or selling property in the Sturbridge area, please do contact me.  I am here to help you navigate the market as it moves toward recovery.

 

Yours in real estate,

Kathryn Acciari, REALTOR(R)
RE/MAX Professional Associates - Sturbridge, MA
(508) 982-0686  kathrynacciari@remax.net

 

 

 

 

Posted by

Putting Today's Technology Tools to Work for You

 

Text and photos copyright 2010-2014 Kathryn J. Acciari unless otherwise noted.  All rights reserved.

 

 

 

Sturbridge & Central MA Real Estate and More

 

 

kathryn acciari facebook twitter linkedin icon rss

 

Kathryn Acciari, REALTOR(R)
Serving Central Massachusetts
with Offices in Sturbridge, Charlton, Spencer, Auburn, and Shrewsbury

RE/MAX Professional Associates
49 Main Street
Sturbridge, MA 01566

Cell: (508) 982-0686    Email: kasellshomes@gmail.com

Web site: Search for Homes
Blog:
Real Estate Blog
Twitter: @kacciari

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Massachusetts Worcester County Sturbridge
Groups:
Local Expert
Posts to Localism
Realtors®
RE/MAX Active Rain Bloggers
Tags:
sturbridge real estate report
sturbridge 2011 home sales
sturbridge 2011 condo sales
sturbridge home sales
sturbridge real estate

Anonymous
Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
570,053
Rene Brin
Brin Realty Amherst & Bedford Offices - Amherst, NH
Amherst NH homes and Southern NH real estate

Boy, talk about how real estate is local.  Hope 2012 brings better real estate sales to you in the Sturbridge area and for all of us.

Jan 08, 2012 08:19 AM #1
Rainmaker
399,859
Kathryn Acciari
RE/MAX Professional Associates, with offices in Sturbridge, Charlton, Auburn, Spencer, and Shrewsbury - Sturbridge, MA
Realtor - CDPE, CIAS, Sturbridge MA Real Estate

Thank you, Rene.  This has been a challenging year, but I believe a better market lies ahead.

Jan 08, 2012 08:42 AM #2
Rainmaker
1,494,877
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kathryn, looks like the inventory is low across the Country, but your market is coming back and looking good!

Jan 08, 2012 11:14 AM #3
Anonymous
Post a Comment
Spam prevention
Show All Comments
Rainmaker
399,859

Kathryn Acciari

Realtor - CDPE, CIAS, Sturbridge MA Real Estate
Ask me a question
*
*
*
Spam prevention