Jan
25
MA: State of the Housing Address
Posted by under Asia, Ask a REALTOR, Boston, Brookline, Brooklne, China, Concord, Dedham, Dover, DoverSherborn, DoverWestwood, Europe, For Buyers, For Realty Professionals, For Sellers, Franklin, General Information, Holliston, Japan, Lexington, Lincoln, Listings, MA, Marketing Reports, Medfield, Medway, Metrowest, Millis, Natick, Needham, Newton, Norfolk, Regional News, Sherborn, Sherorn, Wellesley, Weston, Westwood, Wrentham, metro west, needham Heights, new england, sudbury, united states, wayland
Fellow Americans,
While statewide numbers might be down, Metrowest for the most part, has endured a healthy recovery over the past 12-24 months. Today’s buyers, as a whole, are a bit more savvy and are hunting down what they perceive as being “good deals”. To them, it’s not just about how much land or square footage you get for the money, now more than ever a “good deal” means finding a town with a good reputation, great location good schools and area amenities and good commuting, while still having the best lot and location and best price per square foot for the best price… Typically, the more of these a town has, combined with a variety of homes available at different price points- means that usually real estate in those towns is strong. When you apply these concepts to the towns mentioned below, you start to get a sense for who, why and what is moving.
Dedham single-family home sales in the month of December 2011 are up 58.3% compared to Dec. 2010. Unit Sales have gone from 13 to 20.
Dedham condo sales in Dec. 2011 are up 50% from Dec. in 2010. Units have gone from 2 to 3
Great town with great commuting and a variety price points makes Dedham affordable and attractive to buyers.
Needham Single-family home sales are up 36.4% in the month of December 2011 compared to December 2010. Units jumped from 22 to 30.
Condos no change 2 and 2
Core town, excellent commuting, great schools and a variety of price points and affordability help Needham stay ahead of the pack in Real Estate.
Wellesley Single-family down 11.4% 26 to 23
Condos were up 100% from 1 to 2
Great town, great schools and good commuting but is more expensive, meaning there is less variety in pricing and affordability.
Westwood Single-family is up 200% 4 to 12
Westwood condo sales remain unchanged with no data to report
Great town, good affordability, good commuting and great schools all help Westwood maintain healthy growth.
In my experience over the past 12-24 months, Baby Boomers looking to down-size, are the ones responsible for spearheading this growth and charge. Most are looking to downsize and have low-maintenance, “turn-key” living. The homes they are down-sizing from, tend to be popular for larger families, looking to get into a town with great schools. Therefore, it is my belief that this positive trend continues over the next 5 years.
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