Home > Blogs > Massachusetts > Middlesex County > Waltham > Market Conditions Single Family Homes Waltham MA May 2010
1,274 views

Bob Tanski's Blog

By Bob Tanski | Agent in Newton, MA

Market Conditions Single Family Homes Waltham MA May 2010

There are currently 103 single family homes currently for sale in Waltham Ma. The average list price for these homes is $427,963 and these homes have been on the market for an average of 91.52 days.

There are currently 48 single family homes under agreement to be sold in Waltham, Ma. The average list price for these homes is $447,493 and these homes have been on the market for an average of 50.23 days.

29 single family homes sold during the month of May 2010 in Waltham, Ma. The average sale price for these homes was $426,055 and these homes were on the market for an average of 52.90 days.

Absorption Rate is the ability of the real estate market to sell all of the houses currently for sale in a given amount of time. For example if there were currently 100 houses on the market and the houses were selling at a rate of 20 houses per month, there would be a five month supply of homes on the market. We can use this number to help determine what type of market we are in.

When there is less than a 5 months supply of homes on the market this is considered a Seller’s Market.

When there is more than a 7 months supply of homes on the market this is considered a Buyer’s Market.

When there is between a 5 and 7 months supply of homes on the market this is considered a Balanced Market.

Time Frame 12 Months 6 Months 3 Months 1 Month
Transactions Closed 269 115 68 29
Average Days on Market 73.71 65.23 60.97 52.90
Average Home Sales Per Month 22.42 19.17 22.67 29
Months Supply on Market 4.59 5.37 4.54 3.59

The absorption rate all by itself is an interesting statistic, but more important is the trend. It can be seen from table above that we are trending towards, if not in, a Seller’s Market. No doubt this is due to the First Time Home Buyer’s Tax Credit. I predict that this trend will continue through June while the market sheds the remaining properties under contact looking for the Tax Credit. It will be most interesting to see how the market behaves past June.

————————————-

Interested in buying a home in the Newton Massachusetts area please visit NewtonAreaRealEstateSales.com and search for properties directly from the Multiple Listing Service (MLS).

Want to know what you home is worth or what homes are selling for in a particular area? Please sign up for a free, no obligation Market Report.

Follow Me LinkedinFacebookTwitter

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer