FRAMINGHAM, MA– There were a total of 49 residential real estate sales in Framingham during the month of November 2011.

Of those 49 properties, thirty one single family homes were sold at an average sale price of just over $312.5k, (average home size was approx. 1750 sqft.).

Single family home which sold during November had been on the market for an average of just over 15 weeks.

The highest price paid for a single family home in Framingham during the month of November was 28 Overlook Drive East for $555k.

The 2500′ sq., 9-room, 4-bedroom, 2-full/ 1-half bath Colonial sits on just over 7/10ths of an acre near the Sudbury/Framingham town line.

The home sold for $34k under the asking price of $589k after ten and a half weeks on the market.  The seller had purchased the home in July of 2007 for $663k, (selling at a net loss of $108k plus any fees and improvements).

The fastest sale of a single family home in Framingham was an 8-room, 4 bedroom, 2-bath Cape. at 28 Alder Lane. The property was listed at $289.9k but sold above the asking price at $293k in just two days.  The slowest sale of a single family home was a 6-room, 3-bedroom, 1-bath Ranch at 16 Marian Road which sold for $170,000, ($10k under the $180k asking price), at 396 days on the market.

Fourteen condominiums sold at an average price of $96.6k, (which equaled approx $110 per square foot).  The condo market has been brisk, with most units on the market for an average of just 5 weeks.

Four multi-family properties sold at an average of $256k.  Of those, one was a 4-family home at 39-41 Bridges Street comprised of 18 rooms in total, (8 bedrooms). This Downtown Framingham rental property was last sold in  September of 2003 for $565k — this month selling for only $275k, returning slightly less than half of the owner’s 8 year investment.

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.

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