Home Sales and Prices are Increasing in Longmeadow

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for the January - August 2013 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 January - August 2013 were slightly higher vs. the year earlier period (125 vs. 121, + 3.3 %- see figure 1 below).
  
  
• Median prices for July and August 2013 were significantly higher vs. the year earlier period.
  
  The median sales price (6 month trailing average) for August 2013 was $325,000 as compared to $272,000 one year ago (19.5% higher, see figure 2 below) and $267,000 for all of 2012 (21.7% higher).  Current median prices are the highest since January 2012.
  
  
• This latest median sales price for August 2013 ($325,000) was 7.1% lower vs. the peak reached in September 2007 ($350,000) (see figure 2 below).
  
  
• For the January - August 2013 period, 48% of the homes (60 out of 125) were sold below the assessment value (see figure 3 below). For all of 2012, 64% of the homes (121 out of 190) were sold below the current assessment value.

Historically low mortgage interest rates and attractive prices continue to help the Longmeadow real estate market gain momentum.

Many real estate markets across the country have shown strength in 2013 continuing the hopeful signs from 2012.  Recently, an rapid increase in mortgage rates have elevated concerns for the continuation of the housing recovery. The real estate market needs increased employment and continued economic recovery which will lead to improved consumer confidence and a more positive environment for home sales.

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Figure 1

[click chart to enlarge]

Figure 2

Below is a chart showing the relationship between recent Longmeadow real estate Sales Prices and Assessed Values (data obtained from the Vision Appraisal website).

Figure 3

 

Here is a link to the data for 2006-2013 Real Estate Transactions that were used to develop the above graphs.

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Longmeadow Home Prices Rise in 2013

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for the January - June 2013 period include both MLS and FSBO transactions and are based upon public information obtained from the Hampden County Registrar of Deeds website.

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for the January - June 2013 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 January - June 2013 were identical (80) vs. the year earlier period continuing the improvement observed last year from prior years (see figure 1 below).
• Median prices for June 2013 were significantly higher vs. the year earlier period.
   
  The median sales price (6 month trailing average) for June 2013 was $317,500 as compared to $260,000 one year ago- 22.1% higher, (see figure 2 below) and $267,000 for all of 2012 (18.7% higher).  Current median prices are the highest since January 2012.
  
  This latest median sales price for June 2013 ($317,500) was 9.3% lower vs. the peak reached in September 2007 ($350,000) (see figure 2 below).

Some troubling trends…

• Home sales for the most recent 3 month period (April - June 2013) were significantly lower vs. the year earlier period (44 vs 56). This may be an indication of a slowdown in overall sales for the full year.
• For the January - June 2013 period, 49% of the homes (39 out of 80) were sold below the assessment value (see figure 3 below). For all of 2012, 64% of the homes (121 out of 190) were sold below the current assessment value.

Historically low mortgage interest rates and attractive prices continue to help the Longmeadow real estate market gain some momentum.

Many real estate markets across the country have shown strength in 2013 continuing the hopeful signs from 2012.  Recently, an rapid increase in mortgage rates have elevated concerns for the continuation of the housing recovery. The real estate market needs increased employment and continued economic recovery which will lead to improved consumer confidence and a more positive environment for home sales.

Figure 1 (click chart to enlarge)

Figure 2 (click chart to enlarge)

Figure 3 (click chart to enlarge)

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Here is a link to the data for 2006-2013 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 Community Website

January/ February 2013 Home Sales

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for the January - February 2013 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 January/ February 2013 were improved vs. the year earlier period continuing the favorable trend from 2012.

• There were 24 home sales in January/ February 2013 vs. 12 in the year earlier period- a 100% increase (see figure 1 below).
• In addition, home sales for Jan/Feb 2013 (24) were the highest total for this period since the current housing downturn began in 2007 (28).
  
• Median prices appear to have stabilized at ~ $275,000 for the past 7 months after reaching a low point in May 2012 at ~ $244,000.  The median sales price (6 month trailing average) for February 2013 was $275,000 as compared to $284,500 one year ago (3.3% lower- see figure 2 below) and $267,000 for all of 2012 (3.0% higher).

Further examination of the recent data shows the continuation of some troubling trends…      

• This latest median sales price for February 2013 ($275,000) was still 21.4% lower than the peak reached in September 2007 ($350,000) (see figure 2 below).
• In January/ February 2013, 50% of the homes (12 out of 24) were sold below the assessment value (see figure 3 below). For all of 2012, 64% of the homes (121 out of 190) were sold below the current assessment value.
• Foreclosure sales continued into the Jan/Feb 2013 period with 4 out of 24 transactions involving bank owned properties.

Historically low mortgage interest rates and attractive prices continue to help the Longmeadow real estate market gain some momentum with the number of sales in early 2013 being the highest since 2007.

Many real estate markets across the country have shown strength in early 2013 continuing the hopeful signs from 2012.  The real estate market needs increased employment and continued economic recovery which will lead to improved consumer confidence and a more positive environment for home sales.

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Figure 1- Longmeadow Home Sales

Figure 2- Median Sales Prices

Figure 3- Home Sales Price vs Assessment Value

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Here is a link to the data for 2006-2013 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 Community Website

2012 Longmeadow Real Estate Results

Shown below are a series of charts summarizing the latest single family home sales for Longmeadow, Massachusetts.  These latest results for the January - December 2012 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 in 2012 were the highest since 2007 when the current real estate decline began.

• There were 190 home sales in 2012 vs. 146 in the year earlier period- a 30% increase (see figure 1 below).
  
• In addition, home sales in December (21) were the highest total since the current housing downturn began and 110% higher vs. December 2011 (10).

However, further examination of the recent data shows the continuation of some troubling trends…      

• Median prices appear to have stabilized at ~ $270,000 after reaching a low point in May 2012 at ~ $244,000.  The median sales price (6 month trailing average) for December 2012 was $269,900 as compared to $312,000 one year ago (13.5% lower) - see figure 2 below.
  
  The median sales price for all of 2012 was $267,000 vs. $315,000 for all of 2011- a 13.5% decline.  This latest median sales price was 21% lower than the peak reached in 2006 ($339,000) (see figure 3 below).
  
  
• In 2012, 64% of the homes (121 out of 190) were sold below the current official assessed value.  26 homes were sold at prices more than $100,000 below the assessed value.
  
  In 2011, 48% of the homes (70 out of 146) were sold below the assessment value (see figure 4 below).
  
  2012 was particularly noteworthy with regard to sales price vs. assessed value where the total sales value was 8.6% lower than the total assessed value.  Since 2008 this difference has averaged less than 1% difference (see Table I below).
   
• In 2012 there were only 29 homes (out of 190) that sold at a price of $400K or higher. Currently, Realtor.com has ~ 50% of the MLS listed Longmeadow homes for sale at prices greater than $400K.

Historically low mortgage interest rates and attractive prices continue to help the Longmeadow real estate market gain some momentum with the number of 2012 sales being the highest since 2007. Prices continue to remain soft with the large majority of homes being sold priced less than $400K.

Many real estate markets across the country have shown strength in 2012.  Hopefully, employment will increase and consumer confidence will continue to improve so that the housing market can become more normalized.

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Figure 1
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Figure 2
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Figure 3
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Figure 4
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Table I- Total Sales vs. Corresponding Total Assessed Value

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Here is a link to the data for 2006-2012 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 Community Website