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Framingham Home Market Snapshot

January 27th, 2011

Framingham Town Hall The town of Framingham, Massachusetts is currently digging out from another foot of snow, which is an appropriate visual for how they have done in the real estate marketplace over the past year. The single family home sales around town have been basically frozen.

Is Framingham selling more or less homes these days?

Less. In 2010, there were 429 single family sales in town. This is a 3% decline from 2009 sales of 442. Going back to 2008, the 469 sales results in a drop of 9%.

Is Framingham having an increase in Selling Prices?

Yes, in 2010, Framingham increased the median selling price from $300,000 (in 2009) to $305,500. This is a 1.8% increase. For anyone who wishes to use the less pertinent Average Selling Prices, they were flat – $322,000 in ’10 vs. $321,227 in ’09.

Are homes selling faster or slower when they come to market?

The Days on Market numbers have dropped consistantly over the past few years. In 2010, the average time on market was 93 days, vs. 106 in 2009 and 118 in 2008. Therefore, homes are selling faster!

Considering the differences in the housing stock of North and South sides of Framingham, is one side doing “better” than the other?

In some respects of the single family housing market, the South side (01702 zip code) has done fine, but overall the North side 01701 zip code shows more strength. The Average Selling Price has gone up 1.4% from 2009 to 2010 in South Framingham, but the North side decreased 1/2%.

On the flip side, North homes sell faster (79 Days on Market) compared to the South side marketing time of 122 Days. There are also more than 2 times the number of Sold listings on the North side.

With a diverse housing stock around the town of Framingham, there is a house for everyone. Homeowners are still able to sell their homes in reasonable amounts of time, but during 2010 there was a noticable shortage of options for people who wished to move to another local home. This is improving for Buyers, with 151 Active listings compared to 120 last year at this time.

If The MAhome Team can be of service in your desire to make a move, please don’t hesitiate to contact Ed Daniels at 508-341-7880. Over 2010, Realty Executives – Boston West was the real estate firm that sold more homes in Framingham than any other. Put the experience of our team, combined with the best real estate firm in Framingham, to work for you.

Categories: Framingham, Local Communities, Market Conditions, Real Estate

This entry was posted on Thursday, January 27th, 2011 at 1:50 pm and is filed under Framingham, Local Communities, Market Conditions, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.