Low mortgage rates, strong demand from immigrants, empty-nesters, and consumers, seeking an investment alternative to Wall Street, pushed sales of single family homes to their third highest level in state history last year, says Realtor Natasha Carter, of the Pepperell, Townsend and Dunstable communities.

"Sales of detached single-family homes increased 5.1 percent statewide over 2001, while the average selling price rose 12 percent to nearly $350,000. And 2002 condominium sales reached an all-time high in Massachusetts, rising more than 13 percent over 2001 volume.

Pepperell

"If you are looking to live among the 12,000 residents of Pepperell, here are some statistics that might be of interest," says Carter. "Housing inventory under $200,000 is at an all-time low. There are 56 single family homes on the market, two condominiums, and 10 land listings available. There are also 10 properties under agreement. The average listing home price is $356,007. Prices have remained steady from the last quarter. Average sale price of single family homes in February was $314,333. Sales price to listing price ratio for these listings is 103 percent. Average market time of sold homes is 63 days, compare to 92 days for the homes sold in January. The highest price for February is $650,000. There is a slight decrease in activity, which is normal for the winter. The housing price bracket enjoying the most sales in January was $250k-$300k.

Dunstable

Prices on real estate in Dunstable have been steadily rising for several years. In the past few months we are experiencing a slow down in the rate of sales especially in the upper end homes," advises Carter. "Listed below are the single home sales statistics for Dunstable in February:Number of single family home sales closed - 1. This home was sold for $410,000. Market time for this listing was 85 days. There were 24 single family homes on the market in February, with the average price $485,520 and 26 single family homes in January, with the average listing price $521,858."

Townsend

"The sellers have been in the drivers seat in Townsend, MA for the past several years," says Carter, "and many have chosen to hold out for a good price. Strong demand and limited supply, not speculative bidding have created the run up in home prices. Inventories of MLS listings and new home construction are growing - these gains in inventory may impact pricing of resale homes. Listed below are the single home sales statistics for Townsend, MA in February 2003: Number of Single Family Home Sales Closed - 6. Average Sales Price was $300,090. The highest price was $524,400. Average market time of sold listings - 149 days. Sales price-to-listing price ratio for these listings is 107 percent. There were 56 Active Listings on the market in February with average market time 139 days and 8 'Under Agreement' listings with average market time 135 days."

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Published: March 20, 2003

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