Kevin

My wife Pat and myself would be delighted to help you with information on Elm Street Concord as well as all other properties in the area. We are brokers with Hammond Residential 113 Thoreau Street Concord, Ma. Call me at 978-985-5271. Thanks Charles Blair

First and for most you should buy based on your needs, so if the condo/townhouse style is the answer than that should be your focus. Taking into consideration what I said below you should try and get the lowest and best price possible when it's time to negotiate giving yourself plenty of room to appreciate.

Since real estate trends are pretty unpredictable - example the market crisis we experienced over the last 2 years was unforeseen by most - it is hard to say what the resale market for condo/townhouses will look like in the next 5/10 years (by the way a 10 year resale period is not really considered "short term").

That said, it helps to look at recent condo statistics compared to single family statistics to see if a good deal is possible.

Over the last year 42 condos have sold in concord with an average days on market of 145. The most sales happened in the $300,000-$350,000 range but your price point isn't at the highest price point which is good. Buying the highest end property puts you at more risk of little appreciation. In your specific price range the average days on market is 128 with a sale price to listing price discount of 4% putting it equal to the total condo market discount. The current absorption rate for condo is 3.5, which means over the last year that many condos sold per month. Using this number I was able to find there are currently almost 8 months of inventory on the market which means the condo market in concord right now is middle of the road: not quite a sellers market and not quite a buyers market (although it is right on the edge). Inventory is half what it was compared to the market in the prior year. Also the days on market have doubled and the median price has dropped. This means the condo market in concord has softened a bit (deal to be had?)

Compare this to the Single family numbers: 169 SF's have sold over the last year with an average days on market of 145, and a market average discount of 5%. The hottest price points are the $500,000-599,000 range and the $1mill-$1.5mill range. The first number being the most relevant to you ... Since your price point falls in one of the most competitive single family price points concentration should really be on getting a great deal on your condo as this will give you an edge at resale.

Again, real estate is very difficult to predict but remember it is also very cyclical. We are in a down turn now but it will surely come around soon. I will hold my personal RE predictions from Trulia ;) but my suggestion to you is find a great negotiator and focus on getting the lowest price possible as well as a good quality townhouse.

I will certainly have a look at these properties and let you know. I would prefer something new, hence a condo/TH will best suit my needs. I understand that Single Family appreciates more, however I would like to know about the condo/TH resale market in Concord? Is it really bad ??(just curious.. most of the condo/TH in Concord on MLS are over 200 days) . Is a short term (5-10 years) investment in a condo/TH in concord a bad idea? Thanks!!!!

My guess would be single families in concord will appreciate more and I say that because they have such great school systems so the town will always attract families looking for single family homes. While condos and single families likely appreciate in tandem, single families offer more options to increase their value (landscaping, parking and there is no condo association dictating other changes/upgrades or lack there of).

Here are some single families for sale in the same price range just as a comparison:

http://www.territoryre.com/idx/listings/70755776/details.html

http://www.territoryre.com/idx/listings/70758937/details.html

http://www.territoryre.com/idx/listings/70619253/details.html

Thanks for your prompt response. Yes, I was looking at the Condo's/TH you pointed to on Elm Street. They are brand new and below 500K. What is better in Concord TH/Condo or Single Family in terms of appreciation and resale?

Not sure which Elm Street property you are talking about as there are a couple (including condos):

is it this single family: http://www.territoryre.com/idx/listings/70758907/details.html
or one of these condo townhouses: http://www.territoryre.com/idx/listings/70642682/details.html

Both look great, although the condo townhouses have been on the market for over 200 days which could be for various reasons (over priced, soft townhouse market in concord, etc).

Either way, to answer your question, yes, any agent can help you. I strongly recommend you hire an exclusive buyers agent, not the agent representing the seller or builder as they have a legal duty to protect the seller in all transactions and therefore can only offer you limited service/advice.

Good luck!