Town Overview

Known for the Battle of Lexington, this historical town is an attraction for family-oriented individuals who are also looking for good public schools and plenty of activities for themselves and for their children. The 11-mile long Minuteman Bikeway, Teresa & Roberta Lee Fitness/Nature Path, Minute Man National Historical Park, just to name a few highlights. There are also many facilities, such as aquatics and swimming facilities, baseball fields, basketball courts, football fields, golf courses, picnic areas, skating park, tennis courts, etc. Most of the facilities are open to the public.

Lexington public schools are rated 10 out of 10 by greatschools.com.

Market

Single-family house inventory in Lexington was 127 for the last month. This translates into about 4 months of supply, which is the lowest it has been since December 2008. Also in comparison with the same time last year, in July 2009 the inventory was at 7.3 months, meaning that there were many houses unsold and was more advantageous for the buyers to pick and choose, but this year in July the market is more advantageous for the sellers.

The houses on market have been waiting for average of 120 days, and even the freshest segment of the market, which is in the $800k's, has been 55 days old. But with the market's shift to seller's side, these houses should sell quickly. The most widely available houses in Lexington are in $1,000,000 to $1,499,999 range. Prices range from $299,900 to $3,395,000. Median price is $859,900.

How are they selling? Last month 39 houses were sold, after spending 93 days on market. This sales figure is slightly lower than the same time in 2009, although so far the year 2010 has seen better sales than the same time period in 2009. The lowest priced house sold for $456,000 and the highest was $1,910,000. The median price was $767,500. Houses in the price range of $500,000 to $599,000 sold the fastest only after 35 days on average. The houses sold for impressive 98% of the listing price.

Let's analyze the overall market with single family houses, condos, and multi-family houses combined. Last month 49 units were sold. Lowest priced property is $252,500, and the highest is $1,910,000. Properties in $600,000 to $699,999 range sold the most. There were 3 properties in the $250,000-$299,999 range, but interestingly they took 108 days to sell. They ended up having to sell for 96% of the listing price. So as we can see, cheaper properties don't necessarily sell the quickest. The key is to price them right, rather than to price a little higher and to wait a long time before coming down on price.

If you would like to receive a monthly Lexington local housing data newsletter, visit www.move2Boston.com, click on the "Link to Raveis," then select "Subscribe to Housing Newsletter." At the same site, you can also generate a housing data report anytime you are interested. Call Susie at 617-332-3420 if you would like her to walk you through this feature.

If you are relocating to Boston area, call or email me to get a FREE relocation package. We are familiar with many communities in the Greater Boston, not limited to one or two areas. We specialize in Buyer Representation. You can be rest-assured that you have a seasoned real estate professional looking out for your interests in the entire buying process.

Tel: 617-332-3420

email: susie@move2boston.com