Thursday, December 23, 2010

Maynard MA - Home Sales Decline in November; More Opportunities for Buyers

Welcome to the Maynard MA Real Estate Market Conditions report for December 2010.

There are currently 37 single-family homes on the market in Maynard up from 31 one year ago. The average time on the market is 152 days, up 42% from last year at this time. Some sellers have taken the increased inventory into account and have adjusted their list prices accordingly to position their properties more competitively in current market. There have been 10 price reductions on 9 properties during the past month; the average adjustment was -4.13%.

Of the 37 active listings, 6 have accepted offers and are being shown until contingencies are cleared. There are no single family homes with sales pending at this time.

Prices for single family homes in Maynard range from $175,000 to $649,900. The median list price is $299,900; the average is $321,183. Year-to-date, as of 12/20 there have been 92 closed sales in Maynard, ther were 91 for the same period in 2009. Median and average sale prices were up; the median for 2010 Y-T-D is 301,000; the average is $306,430. The 2009 median for the same period was $280,000; the average was $281,000.

As in September and October, there were fewer closed sales in Maynard during November 2010 than during November 2009 - 7 compared with 11. The median sale price was $322,900 and the average was $306,486.

For anyone looking for easy living, the number of condominiums/townhouses in Maynard has also increased from this time last year. There are 17 available of which 4 already have accepted offers waiting for contingencies to clear.

Prices range from $124,900 for apartment style condos to $320,000 for new townhouses. Prices at the established townhouse developments of Apple Ridge, Oak Ridge, and Deer Hedge Run start at $200,000 for a short-sale listing at Oak Ridge. Others start at $224,000 for a 3-level unit at Deer Hedge that can use updating. At the peak these townhouses were selling up to the $320s so they are an excellent value in the $200s.

Maynard offers more affordable housing options for buyers than the surrounding towns of Sudbury, Acton, Concord, and Stow, and the town has lots of activities and amenities including an active downtown with a variety of specialty shops and restaurants, a movie theatre, live arts, music, and theatre. Outdoor activities include hiking, fishing, tennis, canoeing, and golf. There are lots parks, and an outdoor walking track.

Increased inventory and the lowest mortgage interest rates in decades make this a great time for anyone who would like to enjoy home ownership and all that Maynard has to offer.

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Data source: MLSPIN (Multiple Listing Service Property Information Network.
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