How do the MLS single family numbers for the first 9 months of this year compare to the same period last year?
While WELLESLEY has made up some ground from dismal sales earlier this year, sales dollar volume through 9/30/2009 remains down by 32.5% and unit volume is down 20.6% as compared to last year. Inventory levels as of 10/7/2009 in Wellesley have increased a dramatic 48.9% as compared to the same date last year. Wellesley’s median price for this period has fallen 16.8%.
NEEDHAM continues to hold ground for this period with unit volume nearly flat and dollar volume off just 6.4%. Needham’s median price has slipped a modest 4.4%.
NATICK picked up a little momentum for this period with a 6.95% increase in unit volume and a 7% increase in dollar volume. Natick’s median price has remained stable for this period. With the inventory of single family homes in Natick dropping by 22.4% on 10/7/2009 as compared to 10/7/2008 it appears the supply of homes for sale is not keeping up with demand.
Natick Sellers! This means now may be a good time to sell. It is possible that a large inflow of inventory in the Spring could satisfy demand and soften prices?
Percentage change for the First nine months of 2009 vs. 2008
………………….WELLESLEY………..NATICK…………….NEEDHAM
SALES Units…………….- 20.6%…………………. + 6.95%………………….. - 1.4%
$ VOLUME……………….- 32.5%………………….+ 7.0%…………………….- 6.4%
Median Price…………….- 16.8%.………………… flat …………………………. -4.4%
Units in Inventory.. …. + 48.9% …………. …… -22.4%….. ……………….. +8.9%
JOHN PRESCOTT, Vice President
Century 21 Commonwealth
508-523-9252
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[...] Local real estate guy John Prescott blogs about MLS numbers for the first 9 months of the year and the stats aren’t pretty for Wellesley — unless you’re looking to buy a house. Inventory is up almost 50% vs. the first 9 months of last year. Median price is down 16.8% and overall sales volumes are down as well. [...]