Although the year to date (YTD) Dorcheser inventory is slightly higher than last year, the Dorchester YTD Average sales price is up by 12% and the average days on market went from 122 days to 77 days, a drop of 37%. These numbers clearly indicate signs of a recovery. As the market begins to rebound it has never been more critical for buyers to “get off the fence” and get into the game. Furthermore, it appears that we may have already seen the bottom of theDorchester market. If you are considering buying real estate and are uncertain of when to purchase a home, the time is now. In addition to getting in while the values are low, you can also take advantage of historically low interest rates. The only way to know when we have seen the bottom of the market is when we start to come back up. Again, Dorchester YTD Home values are up 12%. What more can I say.

Dorchester Real Estate Report

As of August 19th 2009, the On-Market inventory In Dorchester has increased. Lets take a look at the numbers:

Total Inventory was 353 on August 19th 2009 and has increased to 393 in 2010 an 11% Increase

The Average Number of Days on Market was 133 Days in 2009 and is now 120 Days a 10% Decrease

The average list price was $296,847.00 and is now $300,445.00 a %12 Increase

It is important to note that the on market inventory for the same time in 2008 was 723. Although the inventory is up from last year, The average number of days On-Market is down 10% and the average list price is up 12%. This numbers indicate that market is getting stronger. Even though the inventory is slightly higher than last year, the average list price has increased and homes are selling quicker. This is a good time to buy as it looks like we may have already hit the bottom In the Dorchester Market.

In July of 2010 there were 58 properties that closed within the month for Dorchester Massachusetts. This is a decrease of 27%, as there were 79 homes that closed in July of 2009.

The Average list price for the homes that closed in Dorchester for July of 2009 was $250,878

The Average list price for the homes that closed in Dorchester for July of 2010 was $238,516

The Average sale price for the homes that closed in Dorchester for July of 2009 was $235,344

The Average sale price for the homes that closed in Dorchester for July of 2010 was $234,400

The Average Market time for the homes that closed in Dorchester in July of 2009 was 111 days.

The Average Market time for the homes that closed in Dorchester July of 2010 was 73 days.

60 homes went under agreement in Dorchester Massachusetts in the month of July 2010. The average list price of the homes that went under agreement was $235,347. The average time on the market for these Dorchester homes was 73 days. That is 34% decrease in the time on market which means that homes are selling faster.