Market Conditions in 03110>Question Details

Joe, Home Seller in 03110

It seems like prices are starting to rise in Bedford. Am I dreaming or is there some merit to that?

Asked by Joe, 03110 Mon Aug 6, 2012

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7
Scott Godzyk’s answer
You are not dreaming, the current trends show less homes on teh market, increases in buyers and sales and yes an increase in selling prices. The continues decrease in values have been for homes in poor consition where most buyers ca not get a mortgage to buy.
1 vote Thank Flag Link Thu Aug 9, 2012
Hi Joe,

Depending on your price range, you may be right. With current market conditions, homes in the $2-300k range in Bedford are seeing a bit of a rise with seasonal adjustments. There are also fewer foreclosures on the market which also keeps from dragging traditional sales down and helps out. Higher priced homes may be leveling out; though saying that they are rising would be a bit of a stretch. Lastly, remember not to judge prices based on the list price as this is not typical of what the homes will or do sell for.

Regards,
Jason G Duval, REALTOR, CRS, ePRO
Licensed Broker in NH & MA
Keller Williams Realty
603.424.4053
jduval@kw.com
1 vote Thank Flag Link Mon Aug 6, 2012
Hi Joe,
You're not dreaming, it does seem that the prices are higher than they were at the beginning of the summer and definitely than they were 6 months ago! I have noticed this in searching for clients and customers.
My guess is that the cash sale and extreme fixer uppers are now purchased. This cleans the market quite a bit for move in ready, higher priced homes.
I think it is safe to say the worst is behind us with the economy, though I don't want to jinx anything!

Cheryl Cummings
Prudential Verani Realty
1 vote Thank Flag Link Mon Aug 6, 2012
I think the more interesting fact about the current Bedford market is the decrease in inventory. Inventory is at about 50% less than 2 years ago for residential homes in Bedford. It is the old supply and demand theory. If supply is lower and demand stays the same or goes a little higher we will see prices on the rise.
0 votes Thank Flag Link Wed Apr 3, 2013
There have been some homes that have sold for more than you might expect, but on the other hand, some homes are worth more than others!!!
0 votes Thank Flag Link Mon Aug 6, 2012
Yes, I also notice the same thing. Prices have stabilized about a year ago. A well priced home in a nice neighborhood will get SOLD quickly and some above asking. A stable housing market and mortgages under 4% will create an increase in sales prices, although small, it is a noticeable price increase.
0 votes Thank Flag Link Mon Aug 6, 2012
Let's just hope buyers take advantage of the lower interest rates before they start to climb also!
0 votes Thank Flag Link Mon Aug 6, 2012
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