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The median selling price of a single family home in Framingham, Massachusetts sold between January and September of this year fell $40,005, or 12%, from the same period in 2008.
The median selling price of a single family home sold in Framingham during this period of 2009 was $294,450. During the same nine month period of '08 the median selling price was $334,500.
There were 334 single family houses that closed from January through September 2009 in the town of Framingham. This is a decrease of 27 or 7% from the same period of 2008, when there were 361 single family homes sold in Framingham.
The Average Days on Market for the homes that closed in Framingham during the first nine months of 2008 was 116 days. The Average Days on Market for the homes that closed during the first half of 2009 was 109 days.
Currently there are 160 single family homes listed for sale in the MLS in Framingham. Last year at this time there were 218. This represents a substantial drop in inventory, which is always a good sign for sellers. Less inventory means fewer choices for buyers which usually leads to higher, or at least more stable, prices. Also, the median asking price for a single family house in Framingham is now $359,900 up from $319,900 one year ago.
For condominiums sold in Framingham January-September this year, there were 125 units sold at a median price of $87,000. Last year over the same period there were 119 condos sold at a median price of $110,000, which is a 21% decrease in prices. This is due primarily to the large number of foreclosed properties which have dominated the Framingham condominium market for the last few years. The good news for condo owners is there are now only 64 units listed for sale, compared with 107 one year ago. This is a huge drop in inventory. The banks are now pricing their units to move quickly, and there have been multiple offers on many bank owned condominiums, as well as single family and multi-family homes for sale in Framingham lately.
If you are ever interested in finding out what a home sold for in your neighborhood, or are thinking of placing your home on the market, always feel free to give me a call. As a Realtor with over 16 years of experience, I am uniquely qualified to assist you in marketing your home and obtaining the highest possible selling price. I specialize in selling Framingham and Metrowest Real Estate.
All of the above information comes from the MLS Property Information Network. This represents only homes that were listed and sold by participants in the MLS.
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