Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

August 22, 2006

Lowell Property Sales

by @ 6:30 am. Filed under Statistics

In an effort to make better use of some of the data in our recording system, I attempted to calculate the average sales price of properties in Lowell over the past few years. Because that’s not the primary function of our system, the data is not precise, but it certainly can disclose trends. For each year since 2000, I used the computer to count the number of deeds recorded in Lowell that stated a consideration greater than $75,000 and less than $1,000,000, and also to find the average price. Here’s the results:
In 2000, 5124 deeds (in the above category) were recorded with an average sales price of $155,371.
In 2001, 5111 deeds - average price of $179,213
In 2002, 5338 deeds - average price of $203,933
In 2003, 5648 deeds - average price of $238,058
In 2004, 6791 deeds - average price of $254,718
In 2005, 6802 deeds - average price of $267,967
In 2006 (to date), 3265 deeds, average price of 270,083
Some observations: In 2000, ‘01 & ‘02, prices rose an average of 15% per year. In 2004, the increase was 7%, in 2005, it was 5%, and this year, it’s only 1%. The number of deeds recorded also paints an interesting picture. The number was relatively stable from 2000 through 2003, but in 2004, the number of deeds rose by 20% and that number held steady through 2005. While we’re only in August of 2006, the numbers don’t look good. The number of deeds we’ve recorded to date average 99 per week. Projected over the full year, this would mean that only 5036 deeds will be recorded, a 26% decrease from the past two years and the lowest figure since before 2000.

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