Some Housing Information to Digest

A variety of new housing information has become available.  Some recently reported on area television stations, some now available from real estate websites.

Warren Group Sales Trends

WHDH Channel 7 recently reported on a study released by the Warren Group.  The report illustrates housing prices for the first nine months of this year in comparison with the same time period last year, as well as in 2003.  The following illustrates the 2007 – 2008 changes for Dennis and our neighboring communities:

Town             2007                 2008       Change       2008 Total Sales

Dennis         $336,250      $328,000     -2.45%            203

Yarmouth     $302,750      $270,000     -10.82%          339

Harwich       $390,000       $360,000    -7.69%            173

Brewster      $460,500       $370,000    -19.65%           103

The data illustrates that the Dennis housing market has remained relatively strong in comparison to our neighbors, having the lowest relative change in average sales prices.  The change from 2003 until 2008, first nine months sales data.  This data illustrates that the value of housing in Dennis, between 2003 and 2008, is still above the Consumer Price Index (12.7%).  This data basically means that housing in Dennis, as an investment, continues to be sound.

Town              2003               2008            Change

Dennis          $275,000       $328,000        19.27%

Yarmouth      $267,000       $270,000        1.12 %

Harwich        $326,000       $360,000        10.43 %

Brewster       $354,950       $370,000        4.24%

Trulia.com

In researching this post, I also stumbled across trulia.com.  This site provides information on homes available for sale, and average listing prices and median sales prices.  The information provided is by zip code.  The following data from Trulia.com illustrates total listings and average listing price in Dennis and the surrounding communities:

Town                    # of Listings             Ave. List Price    Median Price

Zip Code                                             Wk End 10/2208  Jan – Sep 08

Dennis

02638                           99                    $753,547              $316,000

02660                          109                   $371,840              $225,000

02639                          175                   $318,280              $202,501

02670                           71                    $509,041              $323,500

Yarmouth

02675                          156                   $470,225              $264,000

02673                          339                   $495,254              $212,500

02664                          183                   $514,594              $251,500

Harwich

02645                          258                   $519,947              $310,000

02671                           74                    $818,119                $42,500

02646                          132                  $1,269,648            $318,000

Brewster

02631                          354                   $522,776              $340,000

A word of caution about this data, neither of the two sources appear to adjust for abnormalities in sales.  I noticed for instance that one zip code on the Cape had a median sales price of $1, essentially representing an in family property transfer.  This transfer would hardly be classified as a sale that truly represents the sales market.

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