FRAMINGHAM, MA- There were a total of 57 residential real estate sales in Framingham during the month of July 2011.
Of the properties sold, forty three single family homes were sold at an average sale price of just under $319k, eight condominiums sold at an average price of $112k, five multi-family properties sold at an average of $231k, and one piece of land was sold for $160k.
Sold properties had been on the market for an average of just under three months, except for the land sale -- that property, a 4/10ths of an acre parcel located at 10 Fenwick Street was only on the market for four days, had an asking price of $159,900 and sold for $160,000.
Topping out the single family residence market, a 10-room, 4-bedroom, 3.5-bath colonial at 262 Edmands Road sold for $670,225, (nearly $50k under the asking price of $719k).
The second highest recorded sale was for a 9-room, 4-bedroom, 2.5-bath Contemporary at 8 Leo Chasse Way sold for $652,500, (nearly $37k under its asking price of $689k). Both of the homes are located on land that abuts Nobscot Mountain in one of the usually pricier areas of North Framingham.
At the low end of the single family market, a "fixer upper" 7-room, 3-bedroom, 1-bath Cape at 987 Edgell Road, was sold for a bargain price of just $89k. The home, which was built in 1926, sits on nearly a half-acre of land but needs a considerable amount of work. It fetched only two-thirds of the already low $140k asking price.
The assessed value of the land alone is $166k, and the building another $62k. The home is located in Nobscot where the prices of nearby homes justify investing to improve the property, or tearing it down and building new.
Other lower priced single family homes included a 4-room, 2-bedroom, 1-bath Ranch at 1019 Waverly Street in Downtown Framingham which sold for $130k, (nearly $20k under its asking price of $149,900). A 6-room, 3-bedroom, 1-bath Bungalow at 115 Dennison Avenue, (also in Downtown Framingham), sold for $160k, (which was $39k under its $199k asking price).
A Downtown Framingham multi-family, (5-unit), with 14-bedrooms and a total of 23 rooms with the address "48-54 Waushakum Blvd." was sold for $189k, ($40k under the $229k asking price). The low price of this previously foreclosed property likely reflects the facts that it's located just off Rt. 135 where MBTA and commuter rail trains, freight railway lines and the former GM plant which now houses Adessa, (a large vehicle auction operation), contribute to noise, heavy traffic and somewhat urban living conditions.
Thanks to Kathy Foran of Realty Executives, 1253 Worcester Rd, Framingham, MA for her help in compiling residential real estate sales information for this article. Visit Kathy's website, www.KathyForan.com, or phone her at: (508) 371-4345 for currently available properties and additional Framingham area real estate information.