Banker and Tradesman often publishes a nice list of real estate sales and prices in various Massachusetts counties.  This week it was Middlesex county so below are the prices and sales numbers for single family homes by town in Middlesex County for 2008 vs. 2007 from the issue.  (Note: If you aren't on this blog directly and can't see the graph below go here to view.)

With 3 exceptions (Arlington, Lexington, and Winchester) prices are down across the board (no shock there!).  But what is most interesting to me is the relative activity and price changes from city to city.  With a top price decline of -22.95% in Lowell all the way to an increase of 7.51% in Winchester, that is a huge variation in a relatively small geographic area.  This once again shows that not all markets are behaving the same - even with one county.  Or even within once city for that matter.  There are vast differences between the strongest markets and the weakest ones, in terms of foreclosure activity, affordability, housing stock (single-fam vs condo vs multi-fam), school systems, location, inventory levels, area amenities, etc., etc. that all drive the differences in the markets.  It doesn't matter if you are comparing counties, cities, neighborhoods, or even streets - there is always variation (both in good and bad markets).  Knowing how the market dynamics affect your house to sell or to buy is key.  If you're buying or selling, make sure to do one thing: educate yourself  on YOUR LOCAL market before making a decision (hopefully with the help of a local professional like me, of course!).