Needham, MA Norfolk County, Real Estate Market Report 11/30/2011

There were 9 homes that closed in November of 2011.

There were 18 homes sold in November 2010.

The Average list price for the homes that closed in Needham for November 2011 was $885,656

 The Average list price for the homes that closed in Needham for November of 2010 was $877,550

The Average sale price for the homes that closed in Needham for November of 2011 was $861,500

The Average sale price for the homes that closed in Needham for November of 2010 was $833,389

 The Average Market time for the homes that closed in Needham in November of 2011 was 145 days.

The Average Market time for the homes that closed in Needham in November of 2010 was 80days.

There are 119 single family homes on the market as of this moment.

The average list price is $999,900 with the average days on market of 154

Median Price for on market homes 1,224,791

Needham has lots of home in the $500,000 to $800,000 range.

There are 44 homes on the market between $1,000,000 and $1,499,999

Lowest price $373,000

Highest price $18,000,000 – 29 acres and the home to be built will be an English Manor

So half the amount of home sold in 2011 versus 2010 with a 1 % increase in the list price and an increase of 3% in sales price for that November period

by The KCM Crew on September 6, 2011 ·

We are often asked "Is it time to sell my home?” The answer to that question is based on what your families’ goals are. If you don’t need or want to move for a few years it might make sense to wait for the housing industry to recover and prices to appreciate. However, if you wish to move within the next six to eighteen months, it is probably better to sell sooner rather than later. Here are five reasons why:

Your House Will Get More Exposure Now Than the Winter

Housing sales usually level off in the summer and then regain momentum in September and October. The spring buyers’ market has passed. Don’t miss the early fall market. It has consistently outperformed the winter season.

Distressed Properties Will Impact Prices

 Distressed properties (foreclosures and short sales) on the market will increase this fall and winter. This will put tremendous downward pressure on prices for at least the next 12-18 months. Get your home sold before they become your competition.

Mortgages Will Become More Difficult to Attain

Lending standards are continuing to tighten. There is legislation currently being considered that will make it even harder for buyers to qualify. Less demand will equate to lower prices.

It is the Perfect Time to Move-Up

With prices where they are and interest rates at all time lows, there may have never been a better time to move-up into your dream home. If you move into a more desirable home now, you will be in position to gain larger equity as prices eventually appreciate.

You Get to Move On with Your Life

Probably the most important reason to sell is so you can get on with your life. You are considering selling for a reason. Do not allow a less-than-stellar housing market prevent you from reaching your goals as an individual or as a family. Think about the reasons you are thinking about moving. Are these reasons really important to you? If you have to take less than you were originally hoping to get for your house, your family has a question to ask each other: Is the dollar difference in sales price worth putting off our plans? Only you and your family know the answer to that question

In July of 2011 there were 31 homes that closed within the month for Needham, MA. this was a increase of  5 units as there were  26 homes that closed in July of 2010.

So there were more units sold and the homes sold for more in July 2011 as compared to July 2010.  Notice the list price was lower than last year in July 2011.  Pricing is key in marketing a home but then it always is.

The Average list price for the homes that closed in Needham for July 2011 was $883,303

The Average list price for the homes that closed in Needham for July of 2010 was $894,269

The Average sale price for the homes that closed in Needham for July of 2011 was $861,073

The Average sale price for the homes that closed in Needham for July of 2010 was $849,412

The Average Market time for the homes that closed in Needham in July of 2011 was  110 days.

The Average Market time for the homes that closed in Needham in July of 2010 was 101  days.

22 single family homes went under agreement in Needham, Massachusetts for the month of July, 2011. The average list price of the homes that went under agreement was $. The average time on the market for these Needham homes were  97 days.

• Schedule to meet with the most importannt professionals regarding the purchase of a home:
• Meet with your Buyer's Agent of your choice
• Next and foremost get pre-approved.
• Thirdly, choose your attorney.
• As you work with you Buyer's Agent you determine the community that best suits you needs in Massachusetts
• I am serving clients in Needham, Wellesley, Westwood, Dedham, Norwood, Natick and the MetroWest Boston Area of Massachusetts

Nearly nine in 10 Americans say homeownership is an important part of the American dream, according to the latest New York Times/CBS News poll. And they are keen on making sure it stays that way, for themselves and everyone else.

 A persistent belief endures that the market will eventually improve and housing will regain its traditional importance. Donna Boyd, a transportation supervisor in Cuyahoga Falls, Ohio, acknowledged "it might take a long time” for property values to go back up. "But I don’t think I’m throwing my money away,” she said in a follow-up interview. "I rented for years when I was younger, and I just don’t like the idea of putting money in someone else’s pocket for something I will never own.”

 -- "Americans See Risks And Rewards In Homeownership,” by David Streitfeld and Megan Thee-Brenan, New York Times (subscription required), June 30, 2011.

NAR: Pending Sales of U.S. Existing Homes Rise by 8.2%

The number of contracts to buy previously owned U.S. homes rose almost three times as much as forecast as falling prices made properties more affordable. The surprising 8.2% increase in the index of pending home resales from April followed a revised 11% drop the prior month, the National Association of Realtors said. Economists forecast a 3% gain, according to the median estimate in a Bloomberg News survey.

-- "U.S. Home Prices Poised to Climb as Foreclosures Wane, HUD’s Donovan Says,” by Kim Chapman, Bloomberg, July 4, 2011.

The Needham real estate seems to be relentless in the sales and quick to sell when soon after it reaches the market.  Of course, it is critical that it be price properly from the start. 

There will most likely not be a let up into the summer is what I predict.  Other communities are catching fire too.  Needham, MA has been so insulated through the recessions.  The most important aspect of market your home is the putting it on at the right price.  Those that have come on the market at the right price go so quickly, often the same same day.

I see this continuing through the summer since our spring market was so delayed.  Needham, MA real estate remains very strong and has been a real draw for potential home buyers for all the right reasons:  Schools, Schools, Schools, close to Boston, quick commute to Logan Airport, easy access to major highways, commuter rail and the finest people you can find live in Needham, MA