Medford MA August 2009 Market Report

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Market Report - August 2009 - Medford, Massachusetts Housing

August 2009
Condominium Sold Listings: 21
Average List Price: $345,766
Average Sale Price: $330,607
Average Market Time: 97.19

Multi-Family Sold Listings: 4
Average List Price: $402,200
Average Sale Price: $396,000
Average Market Time: 110.75

Single Family Sold Listings: 22
Average List Price: $374,464
Average Sale Price: $369,200
Average Market Time: 34.41

July 2009
Condominium Sold Listings: 13
Average List Price: $290,223
Average Sale Price: $266,060
Average Market Time: 98.00

Multi-Family Sold Listings: 8
Average List Price: $403,200
Average Sale Price: $379,063
Average Market Time: 104.88

Single Family Sold Listings: 24
Average List Price: $358,845
Average Sale Price: $349,827
Average Market Time: 85.79

August 2009 condo sales saw a jump from 13 in July 2009 to a high of 21 for August 2009. Multi-family properties saw a real drop off from 8 in July 2009 to 4 in August 2009 and Single Family homes only declined slightly from 24 in July 2009 to 22 in August 2009.

Condo prices were up on average over $63,000 from July 2009 and slightly shorter average days on market. Multi family homes also saw a rise in average sale price of over $16,000. Single family average sales prices also showed a rise of almost $20,000 higher than July 2009.

With September here it’ll really be telling how home sales continue with the deadline quickly approaching for the $8,000 first time buyers tax credit. The majority of homes in Medford fall in the $300K-400K range making them especially attractive for first time home buyers, there is getting to be a shortage of lower end & entry level housing options on the market also adding to the price run up.
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