While values in the Merrimack Valley continue to be below the market's peak from 2005, activity has been consistent over the past couple years.
The single family markets in the cities of Lawrence, Lowell, and Methuen continue to be negatively affected by the large number of bank foreclosures. Values and the number of sales remained fairly stable in the surrounding towns of Andover, Billerica, Chelmsford, Dracut, Tewksbury, Tyngsborough, and Westford. Tyngsborough saw a slight spike in May, but this was due mainly to the closing of a few properties in a new construction development.
In many areas, single family values have begun to stabilize. If inventory levels continue to decline and the number of sales remains steady, values should continue to stabilize as the supply/demand ratio becomes more balanced.
