The first 4 months of 2013 are officially closed and the results are in. Our real estate market is experiencing what the majority of the nation is seeing, and that is higher prices, more sales and less inventory to choose from. The news continues to look favorable for current owners who are holding their homes, as higher prices can make it easier for loan modifications and refinancing to help keep people in their homes. It’s a bit of a challenge right now for people looking to buy in certain towns and price points, and we are seeing many many multiple offer situations on homes priced and conditioned correctly (learn how buyers can win a multiple offer/bid situation by watching our video on the topic).
Here are the numbers for the state of Massachusetts as reported by our Multiple Listing Service (MLS) for the period of JAN to APRIL 2013 compared to the same period last year. For your specific town information, just ask us!
SINGLE FAMILY HOMES
UNITS SOLD: 10,501 UP 2.12%
AVERAGE $: $368,000 UP 6.35%
HOMES AVAILABLE: 19,209 DOWN 20.8%
CONDOMINIUMS
UNITS SOLD: 4,432 UP 10.6%
AVERAGE $: $358,000 UP 6.8%
CONDOS AVAILABLE: 6,229 DOWN 26.78%
What do you think, can prices and unit sales continue to rise? Or will we start to see a lot more inventory come on to the market, causing another drop in value?
Authored By:
Ron Carpenito– Real Estate Consultant / Owner
Ron Carpenito on Google+
