Condo prices in Burlington dropped a bit this past quarter, but remain stronger than the same time frame last year. The 3rd quarter 2015 Burlington MA condo market statistics may be helpful if you are looking to buy or sell a condo in Burlington.
Burlington MA condo Property Prices
Sale prices are a simple glimpse of a local market. For 3rd quarter 2015, condo real estate in Burlington MA sold for $414,314 on average. For the previous year, that figure was $400,000. This represents a 3.58 % difference. In the year before that, the average was $497,240.
Activity in the Burlington MA Market
Listing volume indicate a few things about the market. Low numbers can mean little inventory, which contributes to a build up of demand and boost prices. This may be apparent in a sellers market. Alternatively, high inventory may cause a surplus. Buyers can receive the advantage in that situation because sellers will vie to get their properties sold.
In Burlington MA during the 3rd quarter 2015, the listing volume was 7. This increased -60% from the year before (which was4). In the year before that, it changed -60% from 10 to 4.
Burlington MA 2015 3rd Quarter Average Listing Time Frame
Average listing time frame is the length of time it takes for a property to get under contract. It can you offer a sense of how hot the market may be and what leverage you could have as a buyer or seller. When properties are selling in a short time frame, as a buyer, you may not have the luxury of waiting delaying a decision as the home might be under contract really fast. As a home seller, it is critical to maintain sensible expectations for marketing time. Do not forget that the set price and condition of a specific property can affect the time frame.
The Average listing time frame in Burlington MA for the 3rd quarter decreased -14.52% from 62 to 53. In the time frame before that, it changed 5.08% from 59 to 62.
3rd Quarter 2015 Burlington MA Condo Market Statistics
For additional 3rd quarter 2015 Burlington MA condo market statistics or details for nearby neighborhoods, contact Peter DaMore at at Law Offices of Peter T. DaMore Jr. These figures were obtained from the MA MLS Property Information Network, Inc. It is intended to provide a generic overview of the market, is not certified, and might not include every single condo transferred in Burlington.