Quincy MA Monthly Real Estate Statistics
Quincy MA Real Estate Market Report
Month to Month & Year to Year MAY 2011 APRIL 2011 MAY 2010
Single Family:
Homes Sold: 44 19 27
Original List Price: $302,133 $321,762 $337,007
Final List Price: $292,332 $312,320 $327,696
Average Sold Price: $278,552 $301,705 $315,667
Average Days on Market: 88.45 129 67
Median Sales Price: $286,450 $297,500 $315,000
Condos:
Home Sold: 16 22 28
Original List Price: $238,095 $239,259 $307,444
Final List Price: $226,189 $233,626 $297,651
Average Sold Price: $220,619 $225,461 $285,118
Average Days on Market: 156 89 107
Median Sales Price: $208,500 $207,450 $253,750
Multi-Umit:
Homes Sold: 9 11 9
Original List Price: $353,954 $419,882 $434,511
Final List Price: $351,732 $387,817 $425,056
Average Sold Price: $334,500 $374,355 $403,889
Average Days on Market: 68 107 86
Median Sales Price: $342,500 $400,000 $384,000
SUMMARY:
As the Statistics show the number of Single Family home sales have increased dramatically over April and May of 2010 with Condo and Multi-Unit sales down slightly.
Prices however have continued to decline, although foreclosure and short sales have had an impact on reducing prices.
The number of foreclosures coming on the market has dropped significantly. This may be in part due to the banks robo-signing scandal. If that is the case, there should be more coming on in future months as they are straightened out and released onto the market. In that case, there could be an impact on prices. If the trend continues to slow down, meaning fewer and fewer foreclosures coming on the market, we should see a turn around with prices starting to head upwards.
Properties Currently Under Agreement in Quincy MA:
Single Family: 54 Properties under agreement with an Average Listing Price of $312,487
Condos: 42 under agreement with an Average List Price of $253,840
Multi-Unit: 17 under agreement with an Average List Price of $375,570
My thoughts are that we are going to see a price increase in June after these sales close. The trend appears to be heading in that direction.
Watch for next months Report to find out which direction prices are heading.
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