During the first nine months of the year, the median price of a single-family home in Dedham, Massachusetts declined each year except for in 2008. In 2008 there was a 2.49 percent increase in median prices compared to the same time period in 2007. Compared to 2008, there was a 10.81 percent decrease in median price in the first three quarters of 2009.
In 2009, there was 31.52 percent decline in home sales (52 less) compared, the same nine-month period of 2008. There was 180 home sales in 2007 through Q3 in Dedham, MA.
Compared to the first nine months of 2008, homes on the market in 2009 spent on average 16 days fewer, or 14.41 percent less time on the market. Compared to the highpoint in 2007, homes in 2009 spent an average of 21 less days on the market, or 18.10 percent less time.
The data come from MLS Property Information Network, Inc.
Median Price Number of Sales Days on the Market
Jan-Sept 2006: $385,000 160 104
Jan-Sept 2007: $361,000 180 116
Jan-Sept 2008: $370,000 165 111
Jan-Sept 2009: $330,000 113 95
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Really many thanks for posting this blog. One of the biggest risks of buying a home during a recession is that you could lose your job after closing the deal. With that in mind, anyone who is considering purchasing a home this year should do so only if they have solid job security. In addition, banks have been raising their lending standards in the face of increased delinquencies. That means in order to get the best mortgage rates, most would-be home buyers will need solid credit, a decent down payment, and documented income verification, says Keith Gumbinger, vice president of HSH Associates. "Mortgage money is available," he says. "In order to have access to the financing, however, you are going to have to align yourself more closely with the new, more prudent lending standards." For more details do visit us at conveyancing solicitors.
Posted by: Jonathan Traut | November 16, 2009 at 02:22 AM