Characteristics of Home Buyers
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- Aubrey Hutchinson
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2 Characteristics of Home Buyers 34% First-time Home Buyers Largest generational purchasing group 77% were 35 or younger 25% were age Typical buyer was 44 years old with median household income of $86,100 67% were married couples, 15% single female, 9% single men and 7% unmarried couples. 67% of home buyers had children living at home. 13% purchased a multi-generational home take care of aging parents cost savings children over 18 moving back age group most racially diverse group of home buyers 25% identified as Hispanic/Latino, black/african american, or Asian/Pacific Islander Generationally why they purchased? Under 35 & desire for home ownership desire for home ownership retirement 1 NAR Home Buyers and Sellers Generational Trends to be closer to family and friends 1
3 Massachusetts Average Sold Price - Single Family Homes January - September 2016 Groveland Methuen Georgetown Rowley Heath Leyden Lawrence Colrain Bernardston Dracut Ipswich Northfield Warwick Royalston Ashby Dunstable North Andover Boxford Winchendon Townsend Pepperell Tyngsborough Rockport Charlemont Ashburnham Andover Gill Lowell Topsfield Essex Gloucester Hamilton Greenfield Orange Groton Gloucester Shelburne Erving Tewksbury Middleton Wenham Hawley Buckland Chelmsford Fitchburg Westford Athol Gardner Lunenburg Shirley North Reading Danvers Manchester Montague Wilmington Wendell Templeton Westminster Ayer Phillipston Billerica Beverly Littleton Reading Lynnfield Plainfield Deerfield Carlisle Peabody Ashfield Conway Leominster Salem Harvard Burlington Wakefield Marblehead Boxborough Bedford Hubbardston Acton Woburn Lynn Cummington Sunderland Leverett Lancaster Stoneham Swampscott Shutesbury Saugus Princeton Concord Winchester Melrose Goshen Whately Petersham Lexington Sterling Bolton Nahant New Salem Stow Maynard Lincoln MedfordMalden Barre Revere Williamsburg Clinton Arlington Everett Worthington Chesterfield Hatfield Belmont Sudbury Waltham SomervilleChelsea Pelham Rutland Berlin Hudson Watertown Cambridge Winthrop Amherst Boston Hadley Hardwick Oakham HoldenWest Boylston Wayland Boylston Weston Marlborough Northampton Newton Westhampton New Braintree Paxton Northborough Brookline Framingham Boston Chester Southborough Wellesley Huntington Ware Shrewsbury Natick Needham Hull Belchertown Worcester South Hadley North Brookfield Easthampton Granby Westborough Ashland Quincy Spencer Southampton West Brookfield Leicester Dover Dedham Milton Holyoke Hopkinton Sherborn Cohasset Westwood Hingham Montgomery Warren East Brookfield Grafton Scituate Ludlow Palmer Millbury Holliston Braintree Blandford Brookfield Auburn Weymouth Russell Upton Medfield Norwood Canton Chicopee Millis Randolph Westfield Milford Medway Walpole Norwell Wilbraham Brimfield Holbrook Sutton West Springfield Charlton Oxford Northbridge Hopedale Avon Rockland Springfield Norfolk Sharon Stoughton Abington Hanover Marshfield Monson Sturbridge Mendon Granville Hampden Franklin Brockton Whitman Agawam Bellingham East Longmeadow Southwick Wales Holland Southbridge Webster Uxbridge Foxboro Pembroke Dudley Douglas Wrentham Hanson Duxbury Longmeadow Blackstone Easton Millville East Bridgewater Plainville Mansfield West Bridgewater Average Sold Price $32,000 - $150,000 $150,000 - $200,000 $200,000 - $250,000 $250,000 - $300,000 $300,000 - $350,000 $350,000 - $400,000 $400,000 - $500,000 $500,000 - $600,000 $600,000 - $700,000 $700,000 - $800,000 $800,000 - $900,000 $900,000 - $1,000,000 $1,000,000 - $2,700,000 No Data CBRB Office Locations North Attleboro SeekonkRehoboth Data Source: MLSPIN; Map prepared by Coldwell Banker Residential Brokerage. Data may not reflect all real estate activity in a town. Attleboro Norton Taunton Dighton Swansea Somerset Fall River Haverhill Westport Amesbury Salisbury Merrimac Raynham Berkley Newburyport West Newbury Newbury Bridgewater Freetown Lakeville New Bedford Dartmouth Halifax Kingston Plympton Middleboro Acushnet Rochester Fairhaven Marion Mattapoisett Carver Wareham Plymouth Bourne Bourne Falmouth
4 PROPERTY TYPE UNITS Current Inventory Active on Market Single Family 60 Condo 1 Multi-Family 17 Mobile Home 4 Land Column Chart 67 Pie Chart Single Family Condo Multi-Family Mobile Home Land % 40% % 11% 1% 0 1 Single Family Condo Multi-Family Mobile Home Land 4 1
5 PROPERTY CHARACTERISTIC UNITS Inventory Make-Up RE-Sale 56 New Construction 7 REO 19 RE-Sale New Construction REO 60 23% % 68% RE-Sale New Construction REO 7 1
6 Average Sold Price Trend By Year 11/20/2016 Single-Family Properties sold during the last 5 years within Ware, MA Massachusetts $449,154 Belchertown $273,899 Palmer $178,519 Sturbridge $293,598 Published by Coldwell Banker Residential Brokerage Page 1 of 1 This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.
7 Printed 11/20/16 Properties Sold YTD - Five Year Comparison Single-Family Properties within Massachusetts, CT 17 Additonal Currently Pending Massachusetts Belchertown 165 Palmer 119 Sturbridge 136 Published by Coldwell Banker Residential Brokerage This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.
8 Average Days on Market (DOM) Massachusetts 86 Belchertown 122 Palmer 120 Sturbridge 112
9 Absorption Rate (By 50K Price Bands) Printed on: 11/20/16 Single-Family Properties sold during the last 12 months within Ware, MA Price Bands Sold In Prior 12 Months Current Active Inventory Months of Available Closed Sales as % of Total $0K - $49K % $50K - $99K % $100K - $149K % $150K - $199K % $200K - $249K % $250K - $299K % $300K - $349K % $350K - $399K % $400K - $449K % $450K - $499K % $500K - $549K % $550K - $599K % $600K - $649K % $650K - $699K % $700K - $749K % All Price Bands % Massachusetts 3.06 Belchertown 5.17 Palmer 3.02 Sturbridge 2.59 Published by Coldwell Banker Residential Brokerage Page 1 of 1 This representation is based in whole or in part on data supplied by our MLS partners. These entities neither guarantee nor are responsible for data accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.
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