Friday, October 15, 2010

Stow MA - Housing Market Conditions - Great Time to Buy in Stow!

Here is what's going on in Stow Massachusetts housing market:

List prices for single family homes in Stow range from $239,900 to $798,000. The median list price is less than it was last year at this time - $474,900 compared with $580,000 last year; and the average is also less: $495,190 compared with $583,169 last year. Currently, there are 50 single family homes for sale in Stow MA. Last year at this time there were 51 listings; however, inventory levels vary by price range. The price range with the largest increase of homes available in Stow is $350,000 to $399,999 - there are 10 for sale compared with only 3 last year at this time; good opportunities for first time buyers. Additionally, there are none listed over $800,000; last year there were six.

Current activity is slow; only one sale pending and no single family homes with accepted offers. Many sellers have recognized the lack of activity and there have been 43 price reductions on 28 properties during the past 3 months; the average reduction was -4.11%; only time will tell if that is enough.

Year to date sales as of 9/30 are up over the first nine months of 2009; 48 compared with 38; and the average time on the market was less - 147 days compared with 186 in 2009. The price range with the most sales was $500,000 to $599,900 - there were 9 sold in that range. The median sale price so far this year is $442,500; the average is $444,531; both lower than in 2009 when the median was $455,000 and the average was $486,814.

Sales and prices during the month of September were less. There were 5 sales; the median sale price was $373,000 and the average sale prices $379,300. There were 6 sales during September 2009; the median sale price was $381,000 and the average was $388,083.

Lower list prices and historically low interest rates make this a great time to move to Stow! And with the stock market providing flat or decreasing returns, real estate is a good opportunity for growth. Visit where you'll find complete MLS listings with addresses and maps, along with local market information and news.

Fall is the most beatiful time of year in Stow MA; gorgeous colors and best apple picking anywhere! If you haven't been to Stow, come see what you're missing!

Source: MLSPIN

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