State Of The Dover-Sherborn Real Estate Market: January-June

Are you considering selling your home in Dover or Sherborn and curious how the real estate market is faring? Although the number of homes sold in these towns is really too small to be statistically significant, we can glean some information by comparing the sales of homes for the first half of this year to the same time period last year.

Here's what the numbers show:

In Dover, the number of single family homes sold fell to just 18 homes in the first six months of 2011, from 26 last year. The average sale price this year was $1,140,207, compared to $972,671 last year. The average days on the market went up slightly to an average 187.

In Sherborn, 26 single family homes sold in the first six months of the year (the same number as January-June 2010). The average sale price increased to $819,755 from last year's average sale price of $715,956. The average days on the market increased considerably this year, to 196 days.

On average, single family homes in Dover are selling at 96 percent of their assessed value, while homes in Sherborn are selling at nearly 100 percent of their assessed value. 

Of course this doesn’t mean all homes will sell at their assessed value. For example, there may be some homes where major upgrades aren’t yet reflected in the assessed value or where there’s something special that makes it more appealing to home buyers. This data just provides a rough ballpark to start with.

If you’re considering putting your home on the market, you’ll want to find out what comparable homes (i.e, homes of similar age, style, size, neighborhood, and amenities) have sold for to get a real sense of the fair market price, and to get suggestions from a listing agent of steps you can take to maximize the value of your home.

Compiled from MLS data, courtesy of Kyle Mann of Hallmark Sotheby’s International Realty