Medfield Condos
Medfield is a town of approximately 12,000 residents near Boston, MA. It is a historic town that was settled in 1649 and incorporated two years later. Not surprisingly, there are numerous historic attractions such as Peak House, Hinkley Pond, and museums, which are popular among residents and draw visitors, too. It takes less than 20 minutes to reach from Boston's border from here, and it is 40 minutes from the city's Financial District by car. Having Boston close by makes this town a prime area for people looking to live close to the city and have an easy commute. The area is popular for both residential housing and commercial properties. On the residential side, the average home value as of early 2018 is $660,600. This is a 1.5% increase from average housing prices in 2017. Average home values are expected to increase by another 2.5% through the end of 2019. The median asking price of homes in Medfield is about $779,000. In price per square feet, the median listing price is $326, which is higher than the median listing price of $268 per SF in the Greater Boston area. Negative equity affects about 4% of homes in this town. This number is below the average number of 10.4% of homes in the United States with negative equity.
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During the first quarter of 2018, townhouses sold for an average price of $401,824. They spent an average time of 84 days on the market before they are purchased. New listings in 2017 and 2018 included an equal number of homes priced between $600,000 to $800,000, and those priced between $800,000 and $1 million. The majority of home buyers purchased homes for prices of less than $200,000. Home buyers purchased properties in the price ranges of $200,000 to $400,000; $400,000 to $600,000; and $600,000 to $800,000 in equal volumes. The highest volume of sales in 2017 was in the month of June, when over $1.5 million in homes was sold. January was also a high sales month. During that time, revenue was over $1 million for all homes were sold. Over $1 million in townhouses was reported in August, too. The slowest months for property sales were in October and March, when less than $500,000 in condominiums were sold. The seasons also affect property sales. Sales typically pick up on late spring (around April) and are highest through the end of the summer. Along with the time of year, the listing price and sale price also affect the length of time that homes stay on the market. Places priced between $600,000 and $800,000 spend about 89 days on the market before selling, while units listed at a price of $800,000 to $1 million remain on the market for an average of 125 days. Places with a sale price of less than $200,000 are on the market for the shortest period of time before selling, which is roughly 60 days. Properties with a sale price of $200,000 to $400,000 remain on the market for just under 70 days on average, while homes priced between $400,000 and $600,000 stay on the market for an average of 92 days. Homes with the highest sale price tags of $600,000 to $800,000 spend about four months on the market before selling.
The process of both buying and selling a home necessitates preparing and planning. Buyers need to figure out how much they can spend on a home in total, and what size down payment they're willing to make. Finding a loan with a reasonable monthly mortgage rate is also essential, provided a mortgage will be used to finance a home. Then comes the task of researching neighborhoods and looking for homes in those areas. Next it's time to visit homes in person, and lastly, officially close a sale. Whether you're just starting to explore properties in town or are ready to close the deal, our staff is here to help you navigate the nuances of home buying.
Selling a place also requires some planning. To sell a property, you'll need to start by fixing it up, whether that's making minor improvements or bigger repairs, to make it ready for show. Then comes scheduling open house times, which often requires balancing your schedule with those of your realtor and prospective buyers. Our staff can help you work through the process of selling a property, which covers everything from making repairs to marketing your property, scheduling open homes, and making a final sale.
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