Needham, MA Market Report
At this point in the Needham, MA real estate single family home inventory we are at a very low inventory. In comparison I have prepared a chart below to compare 1/8/2008, 1/8/2009 and 1/8/2010. Yet at this time last year the inventory was even lower.
| 1/8/2008 | 1/8/2009 | 1/8/2010 | |
| SFH Inventory | 65 | 63 | 69 |
| Lowest Price | 375,000 | 299,000 | 398,000 |
| Median Price | 889,000 | 819,900 | 1,049,500 |
| Highest Price | 3,500,000 | 2,850,000 | 3,250,000 |
| Avg. Days on Market | 149 | 131 | 146 |
| Sales Last **30 Days | 10 | 19 | 21 |
| Median Price | $592,500 | $618,000 | $700,000 |
| Average Price | $686,290 | $739,000 | $883,776 |
| Highest Price | $1,240,000 | $1,612,000 | $2,050,000 |
Spring market is really just around the corner and hopefully the weather is going to warm up. The average price is increased year over year for this time period.
The high inventory is in the $600,000 to $699,999 with 9 and 27 homes on the market in the $1,000,000 to $1,499,999.
There are 17 condominiums currently on the market between $185,000 and $1,375,000 with average days on market of 114.
There is 1 two-family listing on the market at $489,000.
There are 5 land listings from $440,000 to $998,000.
There are 19 rental listings from $600.00**to $9,000.
With the tax extension I believe that will keep the real estate market moving right along in Needham, MA
There were 273 single family homes sold in 2009 at 96% of asking price and 93% of the original price as an average with an average days on market of 89 days. See breakdown below.
|
Lowest Price: $175,000 |
Median Price: $655,900 |
|
Highest Price: $2,858,536 |
Average Price: $775,293 |
I have experienced an increase in activity personally even just since December 27th, which is a nice way to start the new year off.
Hi Pat - Excellent work keeping everyone posted on what is going on in the Needham Real Estate market!
Thank you Bill. You are one of my heros and I value your comment highly. Hope you are off to a great start in 2010.
You are quite welcome Pat. I hope you have a fantastic year as well. Things are starting to look up a bit.