by Miah Kattman
7/10/2010

 
Home buyers rushed to meet the June 30th tax credit deadline in the second quarter of 2010, helping Holliston real estate sales continue their double digit climbs once again. According to MLS Property Information Network, there was a 13% increase in sales of single family homes in the second quarter of 2010 versus the second quarter of 2009. The average listing price of homes for sale increased 19% and the average sale price of homes increased 22%. Homes were on the market for half as many days in the spring this year as last year.
 
From April through June of this year, the average list price of homes was
$474,609 compared to $399,903 during the same period a year ago. The average sale price was $467,333 versus $383,488 a year ago. Homes were on the market for 82 days this spring as opposed to 157 days a year ago. The least expensive home to sell in the second quarter was 100 Washington Street for $130,000. A buyer paid $899,331 for new construction located at Kingsbury Landing.
 
During the last few quarters most of the sales in Holliston have been under the $500,000 price range with only a handful of sales above $500,000. This quarter sixteen homes sold over $500,000. A year ago during the same quarter only seven homes sold over half a million dollars. It will be interesting to see if the strengthening of the high-end market continues in the next to quarters of the year. Holliston has not seen many sales of homes over $1 million since the downturn started and that still remains true today.
 
There are currently 53 homes on the market. The least expensive home is 2332 Washington Street and it is available for $265,000. The most expensive home on the market is Lot 16 Deer Run, listed for $1,200,000.
 
Sales continue to remain strong despite the expiration of the tax credit.
Twenty-two homes currently have either accepted offers or signed purchase and sales agreements. Interest rates have been at lows not seen since Freddie Mac started its business in the early 1970s. Buyers have been locking in around 4.5% to 4.75% for a 30-year fixed rate mortgage.
 
There has been some confusion about the tax credit extension. Legislation enacted in July extended the closing deadline from June 30 to September 30, 2010 for eligible home buyers. However, to be eligible, buyers must have have bought — or entered into a binding contract to buy — a principal residence on or before April 30, 2010. If buyers entered into a binding contract by April 30, 2010, they must close (go to settlement) on the home on or before September 30, 2010.
 
As always we will continue to report quarterly trends to keep Holliston
residents informed about current market conditions. Please email or contact us with any questions about real estate.
 
Miah Kattman Browne & Barbara Kattman
Exceptional Properties Specialists
William Raveis Real Estate
50 Central Street
Wellesley, MA 02482
Miah & Barbara's Direct Line: (508) 960-4048
Barbara's Email: kattmanb@raveisre.com
Miah's Email: brownem@raveisre.com
Web Address: www.raveis.com/kattmanbrowne
<http://www.raveis.com/kattmanbrowne>