Massachusetts Community Update for March 2014
Saint Patrick’s Day is upon us, one big event up here in the Merrimack Valley is the Haverhill Exchange Club Saint Patrick’s Day breakfast on March 17th at 7:30 a.m.
at Diburros in Ward Hill Haverhill. It’s $30 per person, and you’ll meet a 7 foot green rabbit! All the money goes to the child abuse prevention effort .
For more details and tickets visit: http://www.haverhillexchangeclub.com/
Massachusetts Real Estate Update for March 2014
We’re having a terrible winter so far regarding snow, which is causing a lot of challenges with Real Estate. We are officially in the Spring Market, so lets see how that’s panning out year-over-year.
First off we can see that single-family homes available inventory is 13,181 units available, that’s down 3 percent from last year. Over on the condo side I see a bigger change, a drop of 12 percent of available condos down to only 3,899 condos. We’re attributing that to the winter, people considering keeping their home of the market until things clear up a little bit. But, were also in time period with as much less inventory in general across the country, so it’s tough to figure out exactly what the reason is.
We also see sales down 6% for single-family homes. 1935 homes sold in February this year, that’s down 6% from last year.
Condos are flat to slightly up, 873 units sold in February this year versus last year.
What’s interesting is the median price of single family homes are up 5.4% in Massachusetts in February this year versus last year. Condos are up 9.5% 284,900 in Massachusetts this year vs. last year.
So, pricing is definitely appreciating in our state. We see unit sales are challenge in single-family homes right now. Inventory definitely challenged as usual with the rest of the country. And this is of course statewide, every town is a little bit different. We prepare reports for many different towns, so if you have an interest in your town give us a call, we’d love to help you: (978)494-0346.
