The real estate market in Melrose has slowed down, but it’s still doing much better than most of the rest of the country. Let me show you:

The Average Days on Market are also showing that sales of single family homes remain brisk while condos and multi family homes are taking longer to sell.

Average Days on Market as of February 26, 2009 (based on the last 6 months of sales)
Single Family Homes – 97 days
Condos – 149 days
Multi Family Homes – 162 days

Let’s compare this to what was going on in November:

There are 2 big changes that we see in the real estate stats:

Just like our New England weather, the real estate market is constantly changing. It will be interesting to see what spring brings!

Here’s the latest on what’s happening in the market. (The sold statistics are for the last 6 months.)

What this information shows us is that the single family market is doing well, however the condo market is continuing to struggle in the city. If we look at the average Days on Market for all sold properties, we see more confirmation:

Single Family Homes – 77 Average Days on Market
Condos – 159 Average Days on Market
Multi Family Homes – 137 Average Days on Market

Would you like more information about buying or selling a home in Melrose? Just ask – it’s what I’m here for!