The Trend in Home Sales in Bourne MA - Improving, or...?
Home prices in Bourne on average are rising again! They've have fallen 23.1% since May 2005, but have increased 4.2% since May of 2009.
The current average listing price of homes for sale in Bourne MA is $412,132, up 16.4% from a month ago. Compare this to the current median sales price of $250,000 - where half of sales are above this amount and half below it.
While 2 and 4 bedroom homes are selling for more compared to a year ago, 3 bedroom homes are still falling in price. Most notably, prices of 4 bedroom homes are up 86.1% since the same time last year while 3 bedroom homes are down 7.5%. Prices of 2 bedroom homes are up 20.5%. Below is a chart of the trend of median prices of homes for sale in Bourne MA over the past 5 years through May 2010:
The number of sales have for all styles of homes in Bourne MA have been cyclical, and have been fairly flat over the past 5 years:
So what does all this mean? Well, if you're looking for a home in the town of Bourne, you may be able to find a few bargains. While sales overall are flat, prices of homes are up from where they were 5 years ago.
Lowball offers won't cut it in a market like this. Sellers aren't in control of the market either, 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.
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