Latest Longmeadow Home Sales

The latest Longmeadow home sales results for May show a significant increase vs. April (normal seasonal increase) but the year to year monthly comparisons show sales lower than the past two years (17 vs. 21 for May 2007 and 26 for May 2006) as can be seen in the chart below:

[click to enlarge chart]

2008 YTD results are significantly lower than corresponding 2007 results (48 vs. 77 - a 37.7% decrease).

Home sale prices also continued to follow the trend established earlier last year in which they correlated pretty well with assessed property values. In May 2008 10 out of 17 homes sold for less than the current assessed value.

Median prices appeared to have leveled out at ~ $296,000- the lowest median price in almost two years- as shown in the chart below.

[click to enlarge chart]