by Miah Kattman
1/3/2011

Home Sales Volume Slows but Prices Continue Increasing in Fourth Quarter.

When you listen to the local and national news about real estate news it is still gloom and doom. However, real estate is local and there are some real glimmers of hope for our local market from 2010.

According to MLS Property Information Network, sales of single-family homes declined by 40 percent in the fourth quarter of 2010 compared to the same quarter in 2009. There were 24 sales in Holliston from September 1 through December 31 this year versus 40 sales during Q4 last year.

Local headlines reflect similar findings. An article on Boston.com on December 23 reported sales of single-family homes decreased 29.8 percent in November 2010 versus November 2009, according to the Warren Group. The article cites a sluggish economy, high unemployment and a slow down since the expiration of the federal tax credit in September.

However, the positive news is that sales prices continue increasing in Holliston and have been for the last year. Real estate markets are cyclical. In warmer months sales prices increased sometimes by double digits, while other periods faced more modest gains when comparing year over year sales. Gains are gains, none-the-less.

The last quarter of 2010 showed slight price increases. The average list price of single-family homes was $417,300. This was an increase of 2 percent over Q4 2009 when the average list price of single-family homes was $407,507.

The average sale price of single-family homes was up 3 percent in the fourth quarter from $391,337 in 2009 to $402,597 in 2010.  The least expensive home to sell was 122 Union Street for $65,000. The most expensive home to sell was 8 Raleigh Road, which sold for $720,000

The average marketing time decreased in the fourth quarter of 2010 from 99.45 days in 2009 to 89.42 days.

Photo above is our listing located at 185 Union Street in Holliston. The home recently had an offer accepted after being on the market for about six weeks this fall.

Realtors have been noticing an unusually busy start to 2010. There are fewer homes on the market, rates have been climbing higher and the market is bustling as buyers try to lock in at historically low rates. There are currently 44 homes available on the market in Holliston. Just a couple months ago there were 80 to 90 homes on the market. The inventory is nearly half of what it was in a short period of time.

All signs point to strong sales as we head into the spring market. 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