Needham Real Estate: March 2010 Market Activity

The Needham real estate market continues its strong run into Spring 2010.  There were 18 Needham homes listed for sale in the last 10 days (that are still available).  There were another 7 Needham homes listed for sale that went under agreement – including 103 Marked Tree Road, which was listed by Ryan McDonnell of Precision Properties.  The majority of the Needham houses put under agreement are tilted toward starter market – 5 of the 7 newly listed Needham properties were available for under $650,000.  Two raised ranches were placed under agreement on Stockdale Road, while 25 Otis Street highlighted the activity at the upper end of the market.

According to MLS data, there were 5 Needham houses that sold in the last 10 days.  The pricing was again dominated by the lower end of the market – the sales ranged in price from $385,000 – $776,000.

Currently, there are 111 Needham homes for sale on MLS.  This includes 13 homes listed for sale that are technically under agreement, but the sales agent is still showing the property.  The overall, average list price is over $1 million and the average days on market is currently about 100.

Market activity will likely slow as we head into the Easter holiday weekend, but activity for the rest of April is expected to be brisk since the home buyer tax credit is set to expire at the end of the month.

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