New England Properties

The Trend in Home Sales in New Bedford MA - Improving, or...?

The Trend in Home Sales in New Bedford MA - Improving, or...?

Home prices in New Bedford on average are falling - but just slightly - and appear to be stabilizing! Home prices have fallen 1.0% since July of 2009.

The current average listing price of homes for sale in New Bedford MA is $206,854, down just 1.1% from a month ago. Compare this to the current median sales price of $158,424 - where half of sales are above this amount and half below it.

2 and 3 bedroom homes are selling for less while prices of 4 bedroom homes are increasing. Prices of 2 bedroom homes are down 2.3% while prices of 3 bedroom homes are down 4.0% from year ago levels. However, 4 bedroom homes are up 16.3%. Below is a chart of the trend of median prices of homes for sale in New Bedford MA over the past 5 years through July 2010:


The number of sales for all homes have been increasing over the past 2 years:


So what does all this mean? Well, if you're looking for a 2 or 3 bedroom home in New Bedford, you can probably find a bargain as prices are down significantly the past couple of years. Still, lowball offers won't cut it in a market like this.

However, if you're looking for a 4 bedroom home, you better not mess around too much as sales and prices are overall are rising. Sellers aren't in control of the market either, so both buyers & sellers should be reasonable when negotiating.

You can still buy a home with no money down with a VA Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. With a MassHousing loan, you can purchase a home with as little as 3.0% down. When you're ready to buy a home, find out how much house you can afford to buy in New Bedford or in the surrounding area.

Be sure to contact me, Lew Corcoran, toll free at 1-800-941-5616, when you're looking to get pre-approved for a purchase of your next home in New Bedford or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.

 

 

Lew Corcoran
Licensed Real Estate Professional

Best Choice Real Estate Services
133 Turnpike St, South Easton, MA 02375
Phone Toll-Free: (800) 984-3341

Serving Easton MA and the Surrounding Area

 

Search the MLS for:

Homes for Sale | Homes for Rent

Short Sales (Pre-Foreclosures)

Government and Bank Foreclosed Homes for Sale

Learn how to Avoid Foreclosure with Home Rescue Plans

Get the latest Easton MA Real Estate Market News

7 commentsLew Corcoran • September 01 2010 08:35AM

Trend in Home Sales in New Bedford MA Through April 2010

Trend in Home Sales in New Bedford MA Through April 2010

According to Trulia.com, sales prices of homes in New Bedford have declined 0.2% over the past year through April 2010, and have declined 44.0% over the past 5 years. The current average listing price of homes for sale in New Bedford MA is $209,291, while the current median sales price is $140,000.

The median sales price is the price at which one half of the homes sold above that amount, and one half of the homes sold below that amount. Below is a chart of the trend of median prices of homes for sale in New Bedford MA over the past 5 years through April 2010:


Below is a chart of the trend in home sales in New Bedford MA over the past 5 years through April 2010:


If you're looking to buy a home or condo in New Bedford MA or in the surrounding area, then search the MLS.

 

Lew Corcoran
Licensed Real Estate Professional

Best Choice Real Estate Services
133 Turnpike St, South Easton, MA 02375
Phone Toll-Free: (800) 984-3341

Serving Easton MA and the Surrounding Area

 

Search the MLS for:

Homes for Sale | Homes for Rent

Short Sales (Pre-Foreclosures)

Government and Bank Foreclosed Homes for Sale

Learn how to Avoid Foreclosure with Home Rescue Plans

Get the latest Easton MA Real Estate Market News

0 commentsLew Corcoran • May 04 2010 10:26AM