2011 Longmeadow Home Sales

Shown below are a series of charts summarizing the latest single family home sales in Longmeadow, Massachusetts.  These latest results from January - December 2011 include both MLS and FSBO transactions and are based upon public information obtained from the Hampden County Registrar of Deeds website.

2011 Highlights

• Home sales in Longmeadow in 2011 were lower than 2010 (-7.6% - 146 vs. 158) and also lower (-13.6%) vs. the 6 year average (146 vs. 169)- see figure 1.  Sales in 2011 were also the lowest for the past six years.
  
  One positive trend... sales in the last three months of 2011 (October --> December) were significantly higher (+35.5%) vs. the corresponding period in 2010 (42 vs. 31).
  
  With a typical inventory (MLS + FSBO) of ~100-120 homes for sale, the average time to sell a home is ~ 9-10 months.
  
  
• Monthly median sales prices were very volatile in 2011 ranging from a low of $263,800 in April to a high of $331,000 in October.  After a precipitous drop in the 1Q/2011, median prices improved dramatically and stabilized by the end of the year. 
  
  The median sales price for homes in Longmeadow at the end of 2011 was 5.0% higher ($327,500) as compared to that for the December 2010 ($312,000) - see figure 2.
  
  Looking at the annual (vs. monthly) variation in median sales price also showed a positive trend.  2011 was 4.0% higher than 2010 but 7.1% lower vs. the peak in 2006- see figure 3.
  
  For the past 4 years home sales prices have shown a seasonal cycle with prices strengthening during the summer months when demand for homes typically increases.  2011 results showed a similar trend.
  
  
• A large percentage of homes continue to be sold at prices below the official assessment value continuing a trend that has been observed for the past 3 years.  For 2010 and 2011, ~ 50% of the homes sold were at prices below the official assessment value- see figure 4 below.
  
  Note: Figure 4 uses assessment values as of January 1, 2012.

Selling a home in the current environment continues to be difficult but 2012 is looking better with continuing low interest rates and an improving economy. 

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Figure 1- Longmeadow Home Sales (click chart to enlarge)

Figure 2- Median Sales Prices (Monthly)

Figure 3- Median Sales Prices (Annual)

Figure 4- Sales Prices vs. Assessment Value

Here is a link to the data for 2006-2011 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 Newest Website