Medfield Real Estate Market Report

During the month of April, Medfield’s spring market continued to bloom. These warm spring months make up the prime open house season. Take advantage of the warm weather by either holding or attending an open house. If you are a seller, now is the time to showcase your home.  If you are a buyer, attending many open houses can help you weed out what you do and do not want in a home.

Seven single family homes were sold this past month.. Currently, 43 homes remain on the market for sale and another 21 homes are under agreement, waiting to close. Compared to last years’ statistics the numbers are identical as far as amount of homes sold and current houses on the market however, the difference is that in April 2012 there were no homes under agreement.  This means that there are more buyers out there and homes are selling fast.

The following listings represent the highs and lows of the transactions that occurred during April 2013. Taking a closer look at the averages provides a valuable overview of the market during this period. The range of homes sold this past month include everything from a  3 bedroom 2 full bath listed for $429,900 which sold for $415,000 to a 5 bedroom 3 full and 1 half bath listed for $1,339,000 which  sold for $1,304,500. The average listing price of a single family home sold in Medfield during April was $684,836 while the average sale price was $662,075. To reiterate, these are averages, and the gap between asking price and sale price is very unique to each home. There is barely a 3% differential, which suggests that homes are being priced for successful, quick sales in these market conditions. 

The average days on market for single family homes in Medfield this past month was 170 days. However, 7 of the 11 homes, or over 50% of the properties that sold in April 2013, sold in less than 170 days. This is a large contrast to what April 2012’s stats revealed, as homes sat on the market for over 200 days, on average.

Searching for the perfect home to call your own includes many factors. Buyers must carefully research properties, as it will aid them in making appropriate offers. Your real estate agent should guide you through the offer process based on facts and figures. Buyers must be conscious of the offers they are making since the market has shifted to new territory; there are many multiple offer situations, something that has not been prevalent in the past years. When compared to the amount of buyers entering the market at this time, inventory is low. Now is the time to list your home, as finally, the buyers are out there!