December Real Estate Update with Dan Tucci
This is the second in a series of occasional pieces by Medford Realtor Dan Tucci. Tucci lives in Medford. Click on “Real Estate” to see Tucci’s other reports.
Medford currently has 50 Single Family Listings for sale through the Multiple Listing Service (MLS). The average asking price is $361,983, and the average days on the market for those homes for sale has been 157 days.
Medford currently has 79 Condominium Listings for an average asking price of $327,647 and the average days on the market for those homes for sale has been 116 days.
Medford currently has 43 Multi-Family Listings for sale. The average asking price is $432,439 and the average days on the market for those homes for sale has been 169 days.
During the month of December, we have seen 7 Medford single family homes under agreement. The average asking price of those homes was $317,014 and the average days on the market was 92 days for those homes.
Four Medford condominiums are under agreement. The average asking price of those homes was $312,175 and the average days on the market was 99 days for those homes.
Four Medford multi-families are also under agreement. The average asking price of those homes was $415,725 and the average days on the market was 188 days for those homes.
Eleven single family homes in Medford sold/closed during December, with an average selling price of $374,727 and an average of seventy-four days on the market. Those sellers who sold their homes in Medford during December received 95.6% of their last asking prices.
Three condominiums in Medford sold/closed during December, with an average selling price of $232,833 and an average of 103 days on the market. Those sellers who sold their condos in Medford during December received 94.5% of their last asking prices.
Nine multi-family homes in Medford sold/closed during December, with an average selling price of $396,182 and an average of 173 days on the market. Those sellers who sold their condos in Medford during December received 92.7% of their last asking prices.
We saw 26 homes/condos/multi-family homes in Medford expire from the market without selling. The main reason homes don’t sell during their listing period is they were priced incorrectly for the market and/or condition of the home. And most likely, these 26 homes didn’t sell because they weren’t priced correctly, and buyers didn’t see these properties as a good value for the money.
Wishing everyone in Medford a safe and Happy Holiday!