Longmeadow 2007 Home Sales Increase by 4.8%

Earlier this month the National Association of Realtors reported that seasonally adjusted existing home sales decreased by 20% nationally from November 2006 to November 2007 while in Longmeadow home sales increased by 4.8% in 2007 from 2006 as shown in the chart below. A total of 198 homes were sold in 2007 as compared to 189 in 2006...

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In the same report, the National Association of Realtors stated that the national median price of homes dropped 3.3 percent ($217,300 --> $210,200) from November 2006.

The chart below shows that the median sales price for Longmeadow homes sold in 2007 increased to the mid-2006 levels after dropping in early 2007. Median prices for homes in Longmeadow showed a slight increase ($334,000 vs. $336,000) when comparing results for November 2006 vs. November 2007.

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While the overall real estate market for Longmeadow was not as vibrant in 2007 as it was in the 2005-2006 time period, sales results and median prices appeared to be doing better than many other regions of the United States.