Buyers Rejoice… Sellers :(
Well you certainly know that the real estate market in down in general if you do any reading at all of the news of late. North Reading is certainly no exception. So it is a great market for buyers in general but don’t think you will get rock bottom prices. This area like more desirable suburbs is priced pretty high. But I do know of one house that sold almost 10% below what it was 2 years ago.
Sales of single-family houses plummeted 28.4 percent from a year earlier, to 2,114, which was the slowest monthly pace since Warren Group in Boston began tracking the state’s housing market in 1987. The median house price declined to $325,000 from $340,000 in January 2007; it was the fourth consecutive month of lower prices. (Boston Globe Article)
Seems gloomy (here is another article and this one too that confirms that gloominess) and add that to the fact that jumbo mortgage rates are still high despite the recent rate drops by the Federal Reserve. But it does seem that inventory is moving a bit. The following is from the same Boston Globe Artice:
Susan Renfrew, the association’s president, conceded the housing market won’t turn around quickly, but she noted that government actions such as increasing the dollar ceiling on mortgages eligible for purchase by government-sponsored agencies such as
Freddie Mac will provide some relief.Renfrew, who is an agent in Greenfield, in central Massachusetts, noted buyers have many choices at a time when mortgage interest rates are low. The rate for a 30-year fixed mortgage is currently 6 percent.
“We have pent-up demand by people who’ve been waiting to get back into the market,” she said. “This is a great time to buy.”
So buyers are shopping but I would expect them to be picky and propose really low prices for sure. It is in these kind of markets where location, location, location will protect your home investment in the long run. So buyers choose wisely 
but this should be a better year for you given all of the years that sellers dominated the market.