Market reports will give you an indication of the condition of a particular market. Patterns could shift regularly, so it is helpful to stay up to date if you are contemplating selling or purchasing in Woburn. The 2017 2nd quarter Woburn MA single family home market report in this blog will be useful if you are thinking of purchasing or selling in Woburn.
Prices of Single Family Properties in Woburn MA
Average selling prices are a quick glance of a specific market. Single family properties in Woburn MA sold for 4,200 on average during 2nd quarter 2017. During the same period of time the last year, that figure was $454,260. Therefore, it increased 13.2 %. Two years ago, it was $446,910.
Woburn MA Market Activity Snapshot
Reviewing listing volume is helpful for several reasons. Few sales typically mean little inventory, which could lead to a build up of demand and increase in market values. This is usually present in a sellers market. Alternatively, too much inventory may create an excess. Home buyers will have the upper-hand in that situation as sellers will compete for fewer potential buyers.
In Woburn MA for the 2nd quarter 2017, the listing volume was 74. This changed 0% from the year before (which was74). In the year before that, it varied -6.33% from 79 to 74.
2017 2nd Quarter Average Listing Time Frame in Woburn MA
Average listing time frameis the time it takes to find a viable buyer. It will tell you how active the market is and what leverage, if any, you could have as either a buyer or seller. When listings are going under agreement in fewer days, as a prospective home buyer, you might not have the option of waiting delaying a decision as the listing might no longer be available. As a home seller, it is important to establish sensible expectations on marketing time. Keep in mind that the price and condition of a specific property can influence that also.
The Average listing time frame in Woburn MA for the 2nd quarter decreased -18.87% from 53 to 43. This after it changed -15.87% from 63 to 53.
2017 2nd Quarter Woburn MA Single Family Home Market Report
For more 2017 2nd quarter Woburn MA single family home market report or details for nearby areas, please contact Christopher Graves , Sales Manager at Sierra Pacific Mortgage Company These figures were compiled from the Mass. MLS Property Information Network, Inc. It is meant to offer a general understanding of the market, is not guaranteed, and may not necessarily include each single family sold in Woburn.