Median home selling prices in August continued to increase toward the peak reached in October 2007 ($350,000 vs. $335,000 in August). Median home prices in Longmeadow are up 8.1% from August 2008 ($335,000 vs. $310,000).
With an increasing number of homes being sold and the accompanying increase in median home sales prices, it does appear that a bottom may be forming for the Longmeadow real estate market (as well as the rest of the US). This combined with a recovery economy may lead to a more normally functioning real estate market in 2010.
Here is a link to the data for 2006-2009 Real Estate Transactions that were used to develop the above graphs.
East Longmeadow FSBO
House for Rent at LongmeadowBiz
Vacation Rentals at LongmeadowBiz
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