Maynard Housing Report Q1 Closed Sales Decline; Pending Sales Up!

Single family homes: First quarter sales and prices dropped from last year in Maynard and were actually lower than they have been in the past 6 years (see charts for 2007-2012). However, the market is getting more active again. There are currently 58 homes for sale, up slightly from 55 last year at this time. Of the 58, 9 already have accepted offers. Additionally, there are 15 single-family properties with sales pending (under agreement).

List prices for single family homes in Maynard range from $149,900 for a 3 bedroom 1 bath bank owned property to $524,900 for a 4 bedroom 2.5 bath new colonial (being built). Maynard is the only town in the area where you can find new construction in the low $500s, but there are only a few so they are selling quickly. The median list price for a single family home in Maynard is $289,900, 10k less than last year; and the average is $300,070, also approximately 10k less. Buyers who want to live in Maynard should make their move while prices and interest rates are low. Median and average list prices for properties with accepted offers and sales pending are already substantially higher than closed sale prices for Q1.

Condominiums and Townhouses: Although the number of condos/townhouses sold in Maynard during the first quarter of 2012 was exactly the same as in 2011: 6, as with single-family homes median and average sale prices were substantially less. The median sale price this year was $190,450; the average was $184,733. The median sale price for Q1 in 2011 was $252,000; the average was $255,300. Smart buyers got some great deals; especially at the established developments of Deer Hedge Run (Deer Path), Apple Ridge, and Oak Ridge where townhouse units were selling for over $300,000 at the peak!
Currently, there are only 12 condos for sale in Maynard; last year there were 21. The median list price is $236,400; the average is $226,435. Based on supply and demand, the lower supply should eventually lead to increased selling prices. Also, as the prices for single family homes go back up, as is evidenced by the prices of the homes that have accepted offers and sales pending, the demand for condominiums will also increase.
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