Sunday, July 19, 2015

1Q/2Q 2015 Longmeadow Home Sales Look Good

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for the January - June 2015 period include both MLS and FSBO transactions and are based upon public information obtained from the Hampden County Registrar of Deeds website.

Highlights
  • The number of Longmeadow home sales for the January - June 2015 was the highest total for the past 10 years.  Comparison of results vs. the year earlier period showed significantly higher results. (95 vs. 87, + 9.2%, see figure 1).  Home sales for 2015 are shaping up to be one of the highest totals in recent years.
     
  • The June 2015 median sales price (six months trailing average) was 6.3% lower vs. the corresponding June 2014 result ($313,750 vs. $335,000, see figure 2).
     
  • Over the past 10 years (2006 - 2015) median sales prices in Longmeadow have ranged from a high of $350,000 (October 2007) to a low of $244,000 in May 2012.

    The official median assessed value for all Longmeadow single family residential properties for FY2015 was $284,700.
     
  • For the January - June 2015 period, only 26% of the homes (25 out of 95) were sold below the official assessed value (see figure 3 below).  This compares to 29% of the homes (61 out of 207) that were sold below the current assessed value in 2014.
     
Many real estate markets across the country have shown strength in 2015 continuing the strong results from 2014.  A continuation of the improvement in employment and sustained economic recovery without a significant rise in mortgage interest rates will likely lead to higher consumer confidence and a strong year for Longmeadow real estate sales in 2015.

Figure 1- Monthly Longmeadow Home Sales
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Figure 2- Monthly Longmeadow Median Sales Prices

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Figure 3- Home Sales Prices vs. Assessed Value

Here is a link to the data for 2006-2015 Real Estate Transactions that were used to develop the above graphs.


Friday, January 2, 2015

2014 Longmeadow Home Sales Look Good!

Highlights
  • Longmeadow home sales for the 12 months (January - December 2014) was the highest total for the past 9 years.  Comparison of results vs. the year earlier period showed significantly higher results (207 vs. 184, + 12.5%, see figure 1).
     
  • Monthly median sales prices in 2014 showed continued improvement vs. levels earlier this year with a December 2014 median sales price (6 month trailing average) of $323,890 vs. $282,500, +14.7% in early 2014 (see figure 2). This year end result was only 7.5% lower vs. the peak of $350,000 observed in October 2007.

    The monthly median sales price for December 2014 (6 month trailing average) was higher vs. the year earlier period ($323,890 vs. $300,500, +7.8%).

    The 2014 annual median sales price (12 month trailing average) was $327,075- a 6.4% increase from 2013 (see figure 3).  During the past three years (2011 - 2014) the annual median sales price has increased by $60,000 or 22.5%.
     
  • For the January - December 2014 period, only 29% of the homes (61 out of 207) were sold below the assessment value (see figure 4 below).  This compares to 47% of the homes (86 out of 184) were sold below the current assessment value in 2013.

Many real estate markets across the country have shown strength in 2014 continuing the hopeful signs from 2013.  A continuation of the improvement in employment and sustained economic recovery without a significant rise in mortgage interest rates will likely lead to higher consumer confidence and a strong year for Longmeadow real estate sales in 2015.

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for the full year January - December 2014 period include both MLS and FSBO transactions and are based upon public information obtained from the Hampden County Registrar of Deeds website.
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Figure 1 [click to enlarge chart]

Figure 2
Figure 3
Figure 4

Here is a link to the data for 2006-2014 Real Estate Transactions that were used to develop the above graphs.
 
Longmeadow official FY2015 property value data from the Vision website showed the following for Residential Single Family Homes:
 
FY2015 Median Assessed Value - $284,700
FY2015 Average Assessed Value - $326,700

Longmeadow FSBO
East Longmeadow FSBO

House for Rent at LongmeadowBiz

LongmeadowBiz.com
- Longmeadow's #1 Business and Community website
LongmeadowMA.org
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Tuesday, July 1, 2014

Longmeadow Home Sales Are Improving

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for January - June 2014 period include both MLS and FSBO transactions and are based upon public information obtained from the Hampden County Registrar of Deeds website.

Highlights
  • Longmeadow home sales for the 6 months of January - June 2014 were higher vs. the year earlier period (88 vs. 80, + 10%, see figure 1).  Home sales for the 2Q (April - June) were even stronger vs. the year earlier period (62 vs 44, + 41%).

  • Median sales prices in 2014 showed a strong improvement from lower levels late last year and into early 2014 with a June median sales price (6 month trailing average) of $337,500 (see figure 2). This is only 3.6% lower than the peak of $350,000 observed in September 2007.

    The median sales price for June 2014 (6 month trailing average) was higher vs. the year earlier period ($337, 500 vs. $317,500, +6.3%).

  • For the January - June 2014 period, only 33% of the homes (29 out of 88) were sold below the assessment value (see figure 3 below). For all of 2013, 47% of the homes (86 out of 184) were sold below the current assessment value.
Many real estate markets across the country have shown strength in 2014 continuing the hopeful signs from 2013.  A continuation of the improvement in employment and sustained economic recovery without a signficant rise in mortgage interest rates will likely lead to higher consumer confidence and a continuing improvement of home sales for the remainder of the year.

Figure 1- Home Sales
(click chart to enlarge)




Figure 2- Median Prices




Figure 3- Sales Price vs. Assessed Value
Here is a link to the data for 2006-2014 Real Estate Transactions that were used to develop the above graphs.

Longmeadow FSBO
East Longmeadow FSBO

House for Rent at LongmeadowBiz

LongmeadowBiz.com
- Longmeadow's #1 Business and Community website
LongmeadowMA.org
-
Longmeadow's Community Website