The number of Single Family Units (not including condo) in Leominster has decreased over 15.5% for the 1st 3 Quarters as compared to 2007 from 199 units to 168. See Graph below:
As you will see below, the average sale price has fallen as well, but not quite as dramatically. It declined a little over 12.3% over the 1st 3 Quarters as compared to the same period of 2007 (from $266,371 to $237,610).
However, diving into the statistics a little more will show that 'Same House Sales' have declined more than these averages show. Is it going to get better? Economics 101 tells me that we need to see Units recover before Prices will. Given the state of the economy, do you think we will see units increase?
For a more specific analysis on the market as it pertains to your specific property, please feel free to contact the top selling Realtor in Leominster, MA Every Year since 1999!
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