Sunday, December 27, 2009
List prices for single-family homes in Stow range from $157,500 to $1,095,000; 3 bedroom homes start at $208,026; 4 bedroom homes start at $399,000; and new homes with 1,900 square feet start at $539,900.
Currently, there are two homes with sales pending. Year to date (through 11/30), there have been 50 closed sales; the median sale price was $470,000; the average was $494,666. There were 5 closed sales during November 2009; exactly the same number of sales during November 2008. The median sale price was $572,000; the average was $565,000; both higher than the previous November median price of $555,000; and average $530,000.
Low interest rates are good for buyers, however, fewer choices give sellers a bit of an edge and will eventually put upward pressure on price. For now, I would say were still a ways from being a balanced market since most buyers look at more than one town and are likely to find areas where there are more homes available. In any case, don't believe the headlines - all real estate is local and especially in Massachusetts conditions can vary greatly from town to town, and often it's right down to the particular price range.
To find out about available homes in Stow MA, visit www.marilynmessenger.com where you'll find complete MLS listings with addresses and maps, along with local market information and news.