Home sales figures can tell you a lot about a specific market. Conditions may change often, so it is helpful to remain current if you are looking to buy or list in Needham. The 3rd quarter 2016 Needham MA single family market statistics below may be helpful if you want to purchase or sell in Needham.
Single Family Property Prices in Needham MA
Average selling prices provide an overall glimpse of where the market is going. The average selling price of single family homes in Needham MA for the 3rd quarter 2016 was $1,048,251. During the same period of time the last year, it was $995,841. Thus, it increased 5.26%. In the year before that, the average was $911,774.
Needham MA Market Movement
Reviewing listing volume can give you some insight on the market. Few sales usually reflect low inventory, which could lead to pent up demand and drive up prices. This is normally seen in a sellers market. Alternatively, too much inventory can cause a surplus. Home buyers can receive the upper-hand in that case as sellers will compete for fewer buyers.
In Needham MA for the 3rd quarter 2016, the listing volume was 115. This decreased -6.5% from the year before (which was123). Prior to that, it changed 18.27% from 104 to 123.
Needham MA Average Marketing Time for the 3rd Quarter 2016
Average marketing time is the amount of time it takes for a house to go under contract. It can you provide a hint on how hot the market may be and what leverage, if any, you could have as either a buyer or seller. When new listings are selling fast, as a 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 someone trying to sell, it is critical to maintain reasonable expectations on marketing time. Remember that the price and presentation of an individual property can impact this time frame.
The Average marketing time in Needham MA for the 3rd quarter increased 63.16% from 38 to 62. This after it changed -17.39% from 46 to 38.
3rd Quarter 2016 Needham MA Single Family Market Statistics
For more 3rd quarter 2016 Needham MA single family market statistics or reports for neighboring communities, contact Bill Kuhlman at at Kuhlman Residential These figures were obtained from the MA MLS Property Information Network, Inc. It is meant to provide a general overview of the market, is not certified, and may not account for each single family sold in Needham.