July Market Update/Statistics

Hello all…

Today’s news for the real estate market is all doom and gloom. See Lowell Sun’s article….. http://www.lowellsun.com/todaysheadlines/ci_15888122 

But clearly, this was to be expected with the First Time Buyer’ Tax Incentive ending June 30. Many buyers bought sooner than they might have had there been no incentive.

Here are July’s Downtown Lowell Statistics:

				DOWNTOWN LOWELL MARKET UPDATE
last 3 months ending on:
July 31, 2010
				ALL LOWELL
					May-10	Jun-10	Jul-10
	Units on Market				170	150	138
	Avg Days on Market				124	134	147
	01854-10852				120	96	100
	Avg Days on Market				127	142	142
DOWNTOWN
					May-10	Jun-10	Jul-10
	Units on Market				62	43	41
	Avg Days on Market				136	152	154
	Avg $ per SqFt ON MARKET				185	187	$202
	Avg $ per SqFt SOLD				$156	$143	$150	3mo avg $150
	Avg Days on Market				105	133	144
DOWNTOWN SALES
Number of Units Sold Last 3 Months
			May-10	Jun-10	Jul-10
	TOTAL		6	9	2
	AVERAGE		6.6/mo	8.3/mo	5.6/mo
DOWNTOWN INVENTORY
Inventory equals current units on market divided by average units sold per month
			May-10	Jun-10	Jul-10
			9 mos	5 mos	7 mos