Welcome to the Stow MA (01778) real estate market conditions. Stow is doing well in the current market. Inventory is down- 35 single family homes for sale compared with 50 at this time last year.
Year-to-date, there are been 9 closed sales are up 33% from last year; and both median and average sale prices were up. The 2009 median sale price to y-t-d is $490,000; median last year was $388,500. The average 2009 y-t-d is $549,062; last year it was $430,483 for the same period. There are currently 4 homes with sales pending.
Current list prices for single-family homes in Stow range from $225,000 to $1,295,000; 3 bedroom homes range from $299,000 to $409,000; 4 bedroom homes start at $445,000; and new homes with 8 rooms, 4 bedrooms, and 2.5 baths start at $549,000.
So has the Stow market started to turn around? Well, lower prices and lower interest rates are both good for buyers, however, fewer choices give sellers a bit of an edge and will eventually put upward pressure on price. For now, I would say were still a ways from being a balanced market since most buyers look at more than one town and are likely to find areas where there are more homes available. In any case, don't believe the headlines - all real estate is local and especially in Massachusetts conditions can vary greatly from town to town, and often it's right down to the particular price range.
To find out about available homes in Stow MA visit www.marilynmessenger.com where you'll find complete MLS listings with addresses and maps, along with local market information and news.
Data source: MLSPIN - Multiple Lising Service Property Informatoin Network.