The median price of a single-family home in Concord, Massachusetts decreased 8 percent in the first quarter to $1,032,000 from $1,121,250 during the same three-month period in 2014, according to data compiled by the Massachusetts Association of Realtors.
In March the median home price declined to $915,000 from $1,043,750 in March 2014, a 12.3 percent drop. On average, home buyers paid 98.6 percent of the original list price in March and 96 percent of the original list price during the first quarter.
Concord, MA real estate inventory improved a bit. The number of single-family homes on the market increased from 43 in March 2014 to 45 in March 2015. The months supply of inventory increased 15.4 percent to 2.9 months from 2.5 months in March 2014. Many new listings hit the real estate market in Concord in March. New listings increased 117.6 percent in March, from 17 in March 2014 to 37 in March 2015. New Listings increased 18.6 percent during the first quarter.
There were three condominium sales in Concord in March, with a median condo price of $599,000. Twelve condos sold during the first quarter, with a median price of $516,000. On average Concord home buyers paid 100.5 percent of the original list price in March and paid 100.9 percent of the original list price during the first quarter.
The average number of days on the market declined 8.4 percent in March for single-family homes.