The market continues to improve in Burlington. Home prices have risen yet again with homes selling quickly and often for higher than asking price. The Single Family Statistics For Burlington MA 2015 3rd Quarter in this blog details some of the latest statistics.
Prices of Single Family Homes in Burlington MA
Sale prices are a simple snapshot of a specific market. For 3rd quarter 2015, single family properties in Burlington MA had an average selling price of 542,724. For the same time period the last year, that average was $513,284. It therefore increased 5.74 %. Before that, the amount was $449,276.
Burlington MA Market Activity Snapshot
Volume of homes sold indicate a few things about the housing market. Few sales often mean lack of inventory, which could lead to a build up of demand and escalate prices. This is typically seen in a sellers market. On the other hand, too much inventory may cause an excess. Home buyers may have the advantage in this scenario since sellers must compete for limited buyers.
In Burlington MA for the 3rd quarter 2015, the volume of homes sold was 74. This shows a -13.89% difference from the preceding year (which was62). Before that, it changed -13.89% from 72 to 62.
2015 3rd Quarter Average Marketing Time in Burlington MA
Average marketing time is the length of time it requires to find a ready, willing, and able buyer. It may tell you how active the market may be and what leverage, if any, you could have as a seller or buyer. When houses are selling quickly, as a buyer, you might not have the option of waiting delaying a decision as the house may no longer be available. When wanting to sell a property, it is important to keep fair expectations on how fast you might be able to find an offer. Do not forget that the listing price and curb appeal of a specific house may influence that as well.
The Average marketing time in Burlington MA for the 3rd quarter increased 7.58% from 66 to 71. This after it moved 73.68% from 38 to 66.
More About the Single Family Statistics For Burlington MA 2015 3rd Quarter
The property summary for Burlington MA 2015 3rd quarter above is based on figures obtained from the Massachusetts MLS system. It is intended to provide a basic overview of the real estate market, is not certified accurate, and may not necessarily include each single family transacted in Burlington. If you are looking to buy or sell, give us a call. We work with many local real estate agents and would be happy to refer one to you.