Average time on market was 211 days with median time on market at 101 days. The sale in Riverwalk was “new construction” which usually always takes longer to sell (440 days on the market). The time on market for the two Village Green homes was more typical at 93 and 101 days. The average sale price was $327,300 with a median of $322,000 and Sellers were achieving about 95% of their asking price, an improvement over the March figure at 92.5%.
April sales show some improvement. There appears to be a pattern forming with regard to Bedford condominium sales. In 1999, there were only two sales in April with a gradual increase through 2003 to 6 sales and then a decline in number of sales began in 2004 with 5 sales, continuing downward to 2008 when only two condo’s were sold.
Look for continuing improvement in the Bedford Condominium Market in May!
There are currently eight Bedford condo’s under contract. Three are in River Glen, one each in The Mews, Village Green, Ridgewood, Riverwalk and Windstone. It appears that several of these will close in May so this means potential for even more positive news next month.
There are 33 Bedford condominium homes for sale. That is four fewer than March. Prices range from a low of $150,000 to a high of $475,000. The average price is $302,094 and median price is $289,900. Average days on market are 311 and median days on market are 207. About 41% of the Bedford condominiums are new construction which accounts for the longer time on market.
Closed Bedford Condominium Sales for April, 2009
65 Hawthorne Dr. #120 - $259,900
10 Muirfield Road - $322,000
5 Turnberry Circle - $400,000
Based on information from the Northern New England Real Estate Network, Inc. for the period April 1, 2009 to April 30, 2009.
Contributed by Susan Crush, Associate Broker, Bean Group
