Concord MA Real Estate: Pending Homes Sales Through the Roof!

Pending home sales were up 142% in January 2015 over January 2014; Sudbury was up 100%...

Closed sales and median sale prices were also higher...

Meanwhile, the number of properties for sale remains low make this a good to sell a house and a challenging time to buy.

Check out the slideshow for market reports for single-family homes in Wayland, Sudbury, Concord, Maynard, and Stow and view the full reports at www.marilynmessenger.com.

Rent or Buy? Must Ask Questions

Whether you should buy or rent a home depends on your wants, needs, priorities, short and long term goals. Given the option, most people still prefer to own, especially these days when rents have gone up and mortgage rates have gone down. The decision is not only financial, but in fact, most people buy for quality of life reasons.

Here are some must ask questions to answer if you’re trying to decide:

1)      What are your short and long term plans?

2)      What type of house do you want?

3)      What community do you want to live in?

4)      What is the upfront cost?  Down payment that goes toward the purchase price vs. security deposit, first and last month rent, rental agent fee.

5)      What is the actual after tax cost?

6)      How often do you want to move? A landlord can decide to sell the property at the end of your lease term end do you want to move after a year? What if you have children in school and there aren’t any rentals in that school district?

7)      Do you have a pet(s)? Many landlords do not allow any pets.

8)      How important is control over your living space?

9)      Do you like to decorate? You can’t change a rental; and why would you want to spend money on someone else’ property?

10)   How do you feel about paying your landlord’s mortgage/expenses, building some else’ wealth?

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Stow MA Real Estate - Prices Edge Up As Inventory Declines

There are currently 33 single family homes for sale in Stow MA. Four of the 33 already have accepted offers waiting for contingencies to clear. Last year at this time there were 39 listings. Both median and average list prices are up from last year at this time. The median is $599,900 compared with $498,900 last year; the average is $544,758 compared with $539,955.


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.



Source: MLSPIN

Stow MA Real Estate - Closed Sales Up in June!

Here is what's going on in the Stow MA real estate market: There are fewer single-family homes on the market - 52 compared with 64 last year at this time; and both median and average list prices are up from last year at this time. The median is $619,900 compared with $599,900 last year; the average is $597,666 compared with $609,015. Current list prices for single-family homes in Stow range from $199,900 to $1,295,000; 3 bedroom homes range from $299,000 to $409,000; 4 bedroom homes start at $445,000; and new homes with 8 rooms, 4 bedrooms, and 2.5 baths start at $549,000.

There were 21 closed sales for the first half of 2009, seven of which closed during June compared with 21 closed sales during the first half of 2008, with only one closed sale during June. The median sale price y-t-d was approximately $90k less than last year, the average was only about 10k less; however, it is worth noting that time on the market decreased by 53% - only 181 days compared with 278 in 2008. Sellers who really wanted to move forward accepted the reality of the market and were able to achieve their goals.Lower prices and lower interest rates are both 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 MORE