Hyde Park, Massachusetts Update on the Condo Market
Yesterday, I received a call from someone asking me about the Hyde Park, Massachusetts condo market. I decided to take a look @ the data and write about it here for everyone to see.
As of this morning, there are 40 condos on the market in Hyde Park. The condos on the market have been on an average of 128 days. The average list price of the units on the market is $283,878. Of the 40 properties, one of them is actually under agreement just being kept on the market for the purpose of taking a backup offer in case the 1st transaction were to fail.
There are 7 units under agreement.
Looking back one month from today, there have been 12 properties placed onto the market. Of these 12, 2 were reduced in price. Both properties were reduced around 26 days into the marketing cycle.
Now for a quick look at the sales. In the past month, there have been 7 condo sales in Hyde Park. These 7 properties were on the market an average of 181 days. The highest sales price for the last month was $270,000. The lowest sales price was $155,000. These properties sold @ 91% of their original sales price (price before a reduction). After prices were reduced on these properties, the properties sold @ 95% of their asking price.
We need to look @ how many actual buyers there have been in relationship to the number of properties on the market. The way we do this is by doing an absorption rate study. I have created one on Hyde Park below.
MICHAEL MAHONEY
Coldwell Banker Residential Brokerage
REALTOR®
www.mmahoney.com
617-273-9297
South End Real Estate - visit www.livein02116.com
South Boston Real Estate - visit www.livein02127.com
Dorchester Real Estate - visit www.02124.com
Roslindale Real Estate - visit www.livein02131.com
Jamaica Plain Real Estate - visit www.livein02130.com
Beacon Hill Real Estate - www.LiveonBeaconHill.com
Back Bay Real Estate - www.LiveinBackBayBoston.com
Hyde Park Real Estate - visit www.02136.com
West Roxbury Real Estate - www.livein02132.com
Quincy Real Estate - visit www.02169.com
CONDOs in Quincy - visit www.QuincyCondoBuyer.com
Brookline Real Estate - visit www.liveinbrooklinemass.com
Cambridge Real Estate - www.LiveinCambridgeMass.com
