Each month I prepare a summary of the sales data in the
town, this data provides some general view of what the market is doing.
For a better understanding of how this relates to your specific
interests please give me a call at 781-771-7216. The graph below shows the monthly numbers for the last year. The line is for the median price and the bars for the numbers of homes sold.
In the Single Family market, there were 126 properties listed August 1. This is down 26% from 170 last year. Sales volume
in July was good with 29 home sales. The
median sales price was up from June and last year at $947,500. I believe that this price increase is more in response to a slow down in the sales of the lower priced homes as the tax incentives expired. In July the
average time on market increased to 100 days. At the current sales rate we have a 4.3 month supply of homes for sale which indicates that the Lexington, Ma. market currently remains in favor of sellers.
Sales will likely remain strong as we move through the summer of 2010. Other area towns have seen strength in the entry level home markets and those sellers are typically looking to move up into the price range for Lexington homes. The interest rates are still low and with the economy showing signs of strength we should see the usual summer strength in 2010. Real estate is a
local market, and locally the economy continues to be strong, so for those
buying and selling homes in Lexington life goes on.
For a longer term view of the market click here for the Lexington Quarterly Report, or call Mike at 781-771-7216 for a detailed review of how the market can affect your goals.
