Massachusetts Home Buyer Guide

Haverhill, MA Home Prices, Sales Up First Quarter 2010

Both median home prices and sales of single-family homes increased in the first quarter of 2010 in Haverhill, Massachusetts.

The real estate data come from MLS Property Information Network, Inc.

In the first quarter of 2010 the median price of single-family homes in Haverhill, MA increased by $100. Sales of single-family homes also increased January through March, increasing 23.6 percent compared to Q1 in 2009.  

Although it is only a modest gain in the median home price, this hints that the Haverhhill real estate market may be stabilizing after years of decreasing home prices. The home buyer tax credit and extremely low mortgage interest rates have certainly helped move the real estate market in Haverhill.

Single-family homes were not the only homes to see increases in both median price and sales in Haverhill, MA as condominiums boasted a gain of $21,000 or 15 percent in median price, and also saw an increase of 20.4 percent in sales.

Multi-family properties did not fair as well. The median multi-family home price declined 2.5 percent and sales dropped 9.4 percent.

Haverhill, MA Home Prices, Sales Decline in 2009

Since 2006 the median price of single-family homes in Haverhill, Massachusetts have dropped $70,900 or 22.1 percent. Each year since 2006 the median price has declined in Haverhill, MA.

In 2009 median prices were down 7.4 percent compared to 2008. The largest drop in median price came in 2008 when the price dropped more $30,000, a 10.03 percent decrease.

In 2009 there was a 7.6 percent decrease in home sales compared to 2008. Compared to sales in 2006, Haverhill single-family home sales in 2009 were down 19.8 percent. 

From 2006 to 2008 the amount of times homes were spending on the market increased. Finally in 2009 there was a 15.2 percent drop in the amount of time homes spent on the market. On average, homes only spent 6 days longer on the market in 2009 than in 2006.

The data come from MLS Property Information Network, Inc.

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Haverhill, MA Real Estate Market Data

	Median Price	Number of Sales	Days on the Market
2006	$320,900	395	117
2007	$300,000	338	130
2008	$269,900	343	145
2009	$250,000	317	123

Haverhill, MA Home Sales, Prices Decline

During the first nine months of the year, home sales in Haverhill, Massachusetts dropped in three out of the last four years.  The only year that saw improvement in sales during this time period was 2008, with a 2.7 percent rise in sales compared to the first nine months of 2007.

Compared to 2006, there was a 24.4 percent decrease in home sales during the January to September period of 2009. There were 12.45 percent more homes sold in the first three quarters of 2008 compared to the same time period in 2009.               

Until 2009, the amount of time homes were spending on the market was increasing steadily. During the last four years, 2008 had the longest average time that homes spent on the market, a full 23.9 percent higher than in 2006. In the first nine months of 2009, the average amount of time homes spent on the market in Haverhill, MA dropped by 11.7 percent, with homes on average selling in 128 days.               

Since 2006 the median price of single-family home in Haverhill, MA has dropped each year during the first nine months.  In the January through September period of 2009, the median prices of a home was down 22.4 percent, or $72, 050 lower, from 2006. From 2008 to 2009, median prices of single-family homes declined 7.4 percent.

The data come from the MLS Property Information Network, Inc.

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Haverhill, MA Real Estate Market Data             

	Median Price	Number of Sales	Days on the Market
Jan-Sept 2006	$322,000	307	117
Jan-Sept 2007	$302,500	258	125
Jan-Sept 2008	$270,000	265	145
Jan-Sept 2009	$249,950	232	128

Haverhill, MA July Home Sales Increase, Prices Decline

From July 2008 to July 2009 there was a 72.7 percent increase in the amount of single-family homes sold in Haverhill, Massachusetts. July 2009 had the highest number of single family homes sold in any July over the past four years.

Single-family homes sold in Haverhill, MA in July 2009 had a median price of $245,550, a 28.8 percent decrease from July 2006.

In comparison to July 2008, there was a 31.6 percent decrease in the amount of time homes were on the market in July 2009.
 
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Haverhill, Massachusetts Real Estate Data

                   Median Price     Number of Sales    Days on the Market
July 2006:        $345,000                  28                               107
July 2007:        $320,000                  37                               108
July 2008:        $265,500                  22                               139
July 2009:        $245,550                  38                                95

 
 
 

Comprehensive Haverhill, MA Real Estate Market Report

Haverhill, Massachusetts median home prices have declined dramatically since 2005; however home sales have begun to stabilize and inventories have declined signaling what might be the end of the worst housing market in decades, according to a new report that my office, Buyers Brokers Only, LLC, has published.

The comprehensive report covers the Haverhill, MA housing market from 2005 through June 2009.

The Haverhill condominium market has been hit hardest in the residential sector, with sales down more than 50 percent. On the other hand single-family homes, although way off their sales numbers from 2005, seem to be stabilizing.

The report is an analysis of local MLS data from 2005 through June 2009.

Some interesting pieces of the report's Haverhill housing data are as follows:

● In 2005 there were 11 single-family homes that sold for more than $600,000; however, no homes have sold for more than $525,000 in 2008 or in the first half of 2009.
● During the first half of 2005, 21 condominiums sold for more than $300,000, but during the first half of 2009 only one condo has sold for more than $300,000.
● The median price of a multi-family home declined by more than 50 percent during the first half of 2009 compared to the first half of 2005.
● The number of single-family homes for sale declined by 42.3 percent when comparing June 30, 2008 (267) to June 30, 2009 (154).

Home buyers are definitely in the driver's seat right now; however, with inventory down significantly since 2007, a slight increase in single-family home sales could change the balance of power or at least level the playing field between buyers and sellers in Haverhill.

Use the link below to read the entire report.
http://tinyurl.com/madkj9

Haverhill, MA Condos Sales, Price Drop Q1

This year’s first quarter sales of Haverhill, Massachusetts condominiums were down 18.5 percent from Q1 2008, and down more than 50 percent from 2007.  In 2007 eighty-nine condos sold during the first quarter, but in the first 3 months of this year only forty-four condos sold.  

The median selling price for condos in Haverhill, MA fell 21.79 percent to $140,000 compared to Q1 2008, when the median price was $179,000.  During the first quarter of 2006, the median condo price was $224,125, making this year’s Q1 price 37.53 percent lower than three years ago. 

Haverhill condominiums were on the market fewer days last quarter than in Q1 2008, on average.  This year condos averaged 212 days on the market.  Compared to 243 days during the first quarter of 2008, condos spent an average of 12.76 percent less time on the market.  

This data is comes from MLS Property Information Network, Inc.

Haverhill, MA Condominium Real Estate Data

 

                    Median Price    Number of Sales    Days on the Market 

Q1 2006:        $224,125                     86                                 115
Q1 2007:        $217,000                     89                                 155
Q1 2008:        $179,000                      54                                 243
Q1 2009:        $140,000                     44                                 212

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