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?
Feel free to contact me at (508) 982-0686 or email@example.com
Your local real estate agent,
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Text and photos copyright Kathryn J. Acciari unless otherwise noted.
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Kathryn Acciari, RSPS, SRS, RESE, CFA
Century 21 MetroWest
45 Lyman Street Suite 14
Westborough MA 01581
Serving the Route 9/20 Corridors of Central Massachusetts
Sturbridge to Westborough
Cell: (508) 982-0686