The Trend in Home Sales in Yarmouth Port MA - Improving, or...?
Home prices in Yarmouth Port on average are falling! They've declined 17.7% since May of 2009, and have fallen 18.7% since May 2005
The current average listing price of homes for sale in Yarmouth Port MA is $552,332, up 6.5% from a month ago. Compare this to the current median sales price of $300,000 - where half of sales are above this amount and half below it.
While 2 bedroom homes are selling for more compared to a year ago, 3 bedroom homes are falling in price. Most notably, prices of 2 bedroom homes are up 9.2% since the same time last year while 3 bedroom homes are down 24.5%. Below is a chart of the trend of median prices of homes for sale in Yarmouth Port MA over the past 5 years through May 2010:
The number of sales have for all styles of homes in Yarmouth Port MA have been cyclical, but have been declining over the past 5 years:
So what does all this mean? So what does all this mean? Well, if you're looking for a home in the town of Yarmouth Port, you may be able to find a bargain. Sales are overall are declining, and prices of homes are also down significantly from where they were 5 years ago.
Still, 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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