Friday, May 11, 2007

Real Estate Market Conditions - Mayard MA

Here are the current real estate market conditions in Maynard Massachusetts: Compared with last year at this time, the number of homes for sale in Maynard is up; median and averages list price are down, and time on the market is up. All of which is good news for people looking for home-ownership opportunities west of Boston.

Currently, there are 52 single-family homes for sale, up from 46 one year ago. List prices range from $240,000 for a 2 bedroom, 1 bath Colonial style home that needs TLC, to $569,900 for a 9 room, 4 bedroom, 2.5 bath Colonial on a cul-de-sac. The median and average list price is almost the same. $379,000 is the median; $379,733 is the average. Last year at this time, the median list price was $389,900; the average list price was $387,291.

Even with lower asking prices, homes in Maynard are staying on the market more than twice as long as one year ago – 101 days vs. 47, indicating that prices may not have adjusted enough for buyers to step up. We’ve all been hearing about how the sub-prime mortgage market is affecting the overall market especially first-time home buyers with small down-payments. While Maynard has excellent opportunities for this segment of the home-buyers, the tighter mortgage market is starting to take its toll.

Maynard also has some excellent condo/townhouse opportunities including the established communities at Deer Hedge Run, Apple Ridge and Oak Ridge where list prices range from $279,900 to $319,000. As is the case with single-family homes, there are more available 31 vs. 27 last year and market time is up substantially to 169 days from 104 on 5/10/06. However, both median and average list prices are up. Sellers need to adjust their thinking if they want to sell.

Often referred to as ‘the Harvard Square of metrowest” Maynard has lots to offer. With diverse home-styles and settings as well as an active downtown with shops, restaurants, a movie theatre, community theatre, space for artisans, a new library, and a country club there's something just about everyone in Maynard.

To find out what homes are available in Maynard and the nearby towns west of Boston, visit www.marilynmessenger.com your on-line source for real estate listings, news and information or call Marilyn Messenger at 508-596-3501 for personal real estate services.

*Data source; MLSPIN (Multiple Listing Service
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