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Market Trends 2007-2008


Below you’ll find information on how the market has change in 2008 with compare to 2007

Change in market Newton,
Brookline, Needham, Cambridge, Sudbury, Arlington, Winchester
Natick,
Lexington, Wellesley, Wstwood and Boston (also by neighborhoods)
January 1st – December 31st 2008 Vs 2007 *
Newton Newton
Single Family 2007 2008 %Different Condo 2007 2008 %Different
Avg.
sale price
936,321 903,312 -3.53% Avg. sale price 543,484 502,313 -7.58%
Median
price
777,000 755,000 -2.83% Median price 455,000 438,998 -3.52%
Avg.
Days on Market
99 74 -25.25% Avg. Days on Market 133 96 -27.82%
Number
of Sold
617 498 -19.29% Number of Sold 293 259 -11.60%
Brookline Brookline
Single Family 2007 2008 %Different Condo 2007 2008 %Different
Avg.
sale price
1,432,278 1,325,407 -7.46% Avg. sale price 503,941 512,544 1.71%
Median
price
1,100,000 1,030,000 -6.36% Median price 455,000 439,500 -3.41%
Avg.
Days on Market
140 105 -25.00% Avg. Days on Market 91 93 2.20%
Number
of Sold
187 124 -33.69% Number of Sold 663 512 -22.78%
Cambridge Cambridge
Single Family 2007 2008 %Different Condo 2007 2008 %Different
Avg.
sale price
1,014,498 1,139,533 12.32% Avg. sale price 471,194 474,577 0.72%
Median
price
659,000 766,000 16.24% Median price 420,000 414,000 -1.43%
Avg.
Days on Market
96 86 -10.42% Avg. Days on Market 81 92 13.58%
Number
of Sold
133 108 -18.80% Number of Sold 1,000 745 -25.50%
Sudbury Needham
Single Family 2007 2008 %Different Single Family 2007 2008 %Different
Avg.
sale price
764,087 690,826 -9.59% Avg. sale price 748,577 785,675 4.96%
Median
price
657,750 602,000 -8.48% Median price 626,500 659,000 5.19%
Avg.
Days on Market
171 160 -6.43% Avg. Days on Market 96 88 -8.33%
Number
of Sold
220 164 -25.45% Number of Sold 373 267 -28.42%
Lexington Natick
Single Family 2007 2008 %Different Single Family 2007 2008 %Different
Avg.
sale price
859,104 882,918 2.77% Avg. sale price 542,319 472,685 -12.84%
Median
price
696,000 750,000 7.76% Median price 437,500 420,000 -4.00%
Avg.
Days on Market
114 98 -14.04% Avg. Days on Market 102 104 1.96%
Number
of Sold
345 305 -11.59% Number of Sold 294 234 -20.41%
Arlington Winchester
Single Family 2007 2008 %Different Single Family 2007 2008 %Different
Avg.
sale price
513,297 511,041 -0.44% Avg. sale price 775,479 881,080 13.62%
Median
price
472,500 475,000 0.53% Median price 676,750 731,575 8.10%
Avg.
Days on Market
68 49 -27.94% Avg. Days on Market 101 108 6.93%
Number
of Sold
290 218 -24.83% Number of Sold 224 198 -11.61%
Wellesley Westwood
Single Family 2007 2008 %Different Single Family 2007 2008 %Different
Avg.
sale price
1,251,572 1,351,022 7.95% Avg. sale price 686,466 660,461 -3.79%
Median
price
960,000 1,102,000 14.79% Median price 550,000 498,950 -9.28%
Avg.
Days on Market
105 107 1.90% Avg. Days on Market 114 146 28.07%
Number
of Sold
338 271 -19.82% Number of Sold 157 120 -23.57%
Boston Boston (Beacon Hill and Back Bay)
Condo 2007 2008 %Different Condo 2007 2008 %Different
Avg.
sale price
494,071 499,028 1.00% Avg. sale price 823,418 885,058 7.49%
Median
price
375,000 372,000 -0.80% Median price 570,000 577,500 1.32%
Avg.
Days on Market
107 104 -2.80% Avg. Days on Market 103 106 2.91%
Number
of Sold
4,524 3,842 -15.08% Number of Sold 602 581 -3.49%
Boston(Dorchester, East Boston) Boston(Dorchester, East Boston)
Condo 2007 2008 %Different Multi Family 2007 2008 %Different
Avg.
sale price
263,019 208,097 -20.88% Avg. sale price 418,878 278,122 -33.60%
Median
price
262,000 215,000 -17.94% Median price 421,500 265,000 -37.13%
Avg.
Days on Market
131 118 -9.92% Avg. Days on Market 117 144 23.08%
Number
of Sold
504 467 -7.34% Number of Sold 335 430 28.36%
Boston (Allston, Brighton, JP) Boston(Allston, Brighton,JP)
Condo 2007 2008 %Different Multi Family 2007 2008 %Different
Avg.
sale price
343,071 341,009 -0.60% Avg. sale price 626,908 604,472 -3.58%
Median
price
300,000 305,000 1.67% Median price 582,500 562,500 -3.43%
Avg.
Days on Market
80 89 11.25% Avg. Days on Market 84 84 0.00%
Number
of Sold
922 688 -25.38% Number of Sold 112 86 -23.21%
Blue Median
price and Average Price of 2008 are both up compare with 2007
Yellow Median
price and Average Price of 2008 are both down compare with 2007
Green Median
price and Average Price of 2008 are the Same as of 2007
* Source: Reference
statistics from MLS PIN

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