Sales for residential homes in November has been running exactly the same as this time last year. We sold 7 single family homes in November which is exactly the same number of homes in November of 2010. But that’s where the similarities end.
The average list and sale price was lower in 2010. Does that mean we’re seeing appreciation year over year? No. In November of 2010, we sold smaller homes with less living area. In actuality the per sq foot sale price has dropped over 2010
November Sold Stats for Medway # of Homes Sold Average List Price Average Sale Price Average Market Time Average Sale$ per Sq ft has dropped to $136 from $150 per sq ft in November of 2010 – That’s about a 10% drop –
Because this is such a small sampling (7 homes and 1 month) I wouldn’t make assumptions about the entire year. Stay tuned for our end of year reporting in about one month.