Sturbridge Massachusetts Q3 2011 Market Report
How's the Market in Sturbridge, MA?
We saw a lazy summer real estate market in Sturbridge this year. Throughout July, August, and September, only 13 single family homes sold, an average of six per month.
Lowest sale price: $75,500 for a 1340 sq. ft. bank-owned fixer-upper
Highest sale price: $615,000 for a 3008 sq. ft. waterfront property
Average sale price: $245,769
Sale price ratio: Average sale price for all 13 homes was 91% of original list price
How does this compare to 2010? Last year, 14 single family homes sold in the third quarter of the year. The lowest sale price was $157,500, and the highest price was $425,000. Average sale price was 93% of the original list price. The graph below provides a month-to-month comparison of 2010 vs. 2011 sales:
Sale of Single Family Home Sales in Sturbridge MA - Month-to-Month Comparison 2010 and 2011
There are currently 89 single family homes listed in Sturbridge. Of these, seven have accepted offers but continue to stay on the market until a contingency is met in the agreement. The average market time is 178 days.
An additional 10 properties are under agreement, with the average list price of these homes at $270,000.
Sturbridge is seeing increased activity in the market as we move into the last quarter of 2011. The average sale price hovers around the $250,000 mark, and this has remained consistent throughout the year. With only five to six homes selling per month, we have about year's worth of inventory on the market - the buyers still have the advantage here. Any home seller should be taking a good, hard look at their pricing strategy in order to compete with similar homes on the market.
Do you have specific questions about the Sturbridge real estate market?
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