Market reports will tell you quite a bit about a specific market. Patterns willl fluctuate regularly, so it is helpful to stay up to date if you are looking to purchase or sell in Burlington. The full year 2015 Burlington MA condo market statistics below details recent figures.
Prices of Condo Properties in Burlington MA
Sale prices are a simple snapshot of a particular market. The average sale price of condo properties in Burlington MA for the full year 2015 was 380097. For the preceding year, the average selling price was $431,189. It decreased -11.85 %. In the year before that, the average was $443,250.
Activity in the Burlington MA Market
Evaluating total number of homes sold can provide some hints on the housing market. Few sales normally reflect little inventory, which might result in pent up demand and push up home prices. This is normally present in a sellers market. On the other hand, too much inventory can create a surplus. Home buyers will receive the upper-hand in this case because sellers will compete to get their homes sold.
In Burlington MA during the full year 2015, the total number of homes sold was 39. This increased -43.18% from the year before (which was25). Prior to that, it changed -43.18% from 44 to 25.
Burlington MA Average Days On Market for the Full Year 2015
Average days on market details the length of time it takes for a property to go under contract. It may you give a sense of how hot the market may be and what leverage, if any, you might have as a buyer or seller. When homes are going under contract in a short time frame, as a prospective home buyer, you might not have the luxury of waiting very long delaying a decision as the listing might be taken by someone else. As a seller, it is helpful to set proper expectations on marketing time. Do not forget that the price and condition of a specific house may affect the marketing frame.
The Average days on market in Burlington MA for the full year decreased -6.9% from 58 to 54. This after it changed -44.23% from 104 to 58.
Full Year 2015 Burlington MA Condo Market Statistics
For additional full year 2015 Burlington MA condo market statistics or details for other communities, please contact Peter DaMore at at Law Offices of Peter T. DaMore Jr. This information was obtained from the Mass. MLS Property Information Network, Inc. It is intended to provide a basic overview of the market, is not certified accurate, and might not necessarily account for every single condo transferred in Burlington.