After a fairly robust local real estate market in June, the month of July blessed us with gorgeous beach, boating and back yard barbecue weather and challenged us with a brief heat wave that broke the 100 degree barrier for a short stint. These factors and the national debate over our nation's debt ceiling limit apparently combined to keep a few more people away from house hunting this month, at least in our little corner of the world. Although July's prices did see some movement, they don't seem to be very far off from the numbers posted in June. The volume of pending sales, however, was certainly down. These monthly statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of activity for residential properties that went under agreement from 07/01/2011 through to 07/31/2011 in our local market area serviced by the H3MLS-Property Information Network. The total sales volume was recorded at 119 new properties that went under agreement during the month of July, which is a 22.7% decrease from the 154 properties in June, offsetting the 22% gain in volume realized from May to June. New pending sales data for the month of July 2011 indicated a slight 0.52% decrease in the median sale price recorded at $209,900. and a slight 1.29% increase in the mean sale price that was tallied at $257,208. The mean posted a 2nd consecutive month of gains. With interest rates at such low levels and adequate funding available to qualified applicants, this is quite an opportune time to buy! If you're ready to jump into the market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market, make sure you neither under sell or over pay for your property, and to help you out along the way! If you are a Southcoast Health System employee click here to take advantage of our new discount service prpgram. Save up to 30% on brokerage fees.
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After two nearly identical back to back months of spring time market activity in April and May, things heat up a bit in June as the month notches increases in not only sales volume but in prices as well. The total sales volume was recorded at 154 new properties that went under agreement during the month of June, which is a 22% increase from the 126 properties in May and well above the winter lows of 95 and 99 pending sales posted this past December and January. New pending sales data for the month of June 2011 also indicate increases in the median and average sale prices that were recorded as $211,000. and $253,920., respectively. The median sale price shows a 0.96 % increase and the average sale price notches a 6.72% increase over May 2011. The month of June, historically, is the most active spring time month for the real estate market in our area and, that again, is the case this year. These monthly statistics cover residential properties for the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of activity for residential properties that went under agreement from 06/01/2011 through to 06/30/2011 in our local market area serviced by the H3MLS-Property Information Network. With interest rates at such low levels and adequate funding available to qualified applicants, this is quite an opportune time to buy! If you're ready to jump into the market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market and to help you out!
The local real estate market activity for the month of May was identical to April 2011 in two of three categories. As we continue with a fairly typical spring time market trend here in the greater Fall River area, total sales volume was identical to that recorded in April, as was the median sale price. We did, however, realize a dip in the average sale price. This drop in average sale price continues the seesawing that we've been experiencing for an extended period. The total sales volume was notched at 126 new properties that went under agreement during the month of May and, as is typically the case, this continues our spring time activity that, again, is well above the winter lows of 95 and 99 pending sales posted this past December and January. New pending sales data for the month of May 2011 indicate a median and average sale price of $209,900. and $237,934., respectively. While the median sale price showed no movement from April, the average price was down approximately 8.3% from April 2011 rebounding from the 13% increase in average sale price experienced from March to April. So, all in all, the month of May seemed to be a continuation in the trend of fluctuating pricing that has been occurring for an extended period of time as we, seemingly, continue to hover at / near the bottom of this local real estate market cycle. These monthly statistics cover residential properties for the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of activity for residential properties that went under agreement from 05/01/2011 through to 05/31/2011 in our local market area serviced by the H3MLS-Property Information Network. With interest rates at such low levels and adequate funding available to qualified applicants, this is quite an opportune time to buy! If you're ready to jump into the market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market and to help you out!
April 2011 was, seemingly, another fairly typical spring time market here in our little corner of the world. Although sales volume was down from the spike we saw in March, the good news is that sale prices have seen a sizeable increase, erasing the dip we realized in March in the mean and median prices recorded. The total sales volume was down approximately 7.35% from the 136 properties that went under agreement in March. 126 new properties went under agreement during the month of April and, as expected, this continues to be well above our winter lows of 95 and 99 pending sales posted this past December and January. These monthly statistics cover residential properties for the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of activity for residential properties that went under agreement from 04/01/2011 through to 04/30/2011 in our local market area serviced by MLS-Property Information Network. New pending sales data for April indicate a median and average sale price of $209,900. and $259,502., respectively. Both of these prices show a sizeable month to month increase. The median price is up approximately 6.8% from March 2011 and the average sale price is up a total of 13%. Although a positive sign, this may just be a continuation in the trend of fluctuating pricing that has been occuring for an extended period of time as we, seemingly, continue to hover at / near the bottom of this local real estate market cycle. With interest rates at relatively low levels, adequate funding available to qualified applicants and continuing growth in labor markets, this is quite an opportune time to buy! If you're ready to jump into the market and take advantage of the opportunities that exist, contact us today to determine your options as either a buyer or a seller. We're here to work through the complexities of the local real estate market and to help you out!
Good news - bad news to report for the month of March. The good news is that the figures tallied for the month of March illustrate a continuation of the early spring activity that showed up in February. The bad news is that this activity shows a slight dip in prices. The total sales volume was up approximately 18.3% from the 115 properties that went under agreement in February, totaling 136 new properties going under agreement during the month of March. These monthly statistics cover residential properties for the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal a respectable level of increase in activity of residential properties that went under agreement from 03/01/2011 through to 03/31/2011. New pending sales data for March indicate a median and average sale price of $196,500. and $229,637., respectively. Both of these prices show a slight decline. The median price is down approximately 4.1% from February 2011 while the average sale price is down a total of 3.4%. This continues the slight fluctuation in pricing that has been occuring for an extended period of time as we, seemingly, are still hovering at / near the bottom of this local real estate market cycle. With interest rates still at relatively low levels, adequate funding available to qualified applicants and continuing growth in labor markets, this is quite an opportune time to buy!
February figures show an early boomerang in total sales volume with 115 new properties going under agreement for sale in the shortest month of the year, rivaling December's 116 properties in 31 days and well above January's 99 mark. February monthly statistics that cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport reveal a respectable level of activity of residential properties that went under agreement from 02/01/2011 through to 02/28/2011. New pending sales data for February indicate a median and average sale price of $204,900. and $237,600., respectively. The median sale price measures a slight increase, up approximately 2.5% over February 2010 while the average sale price is up a total of 1.92%. This is relatively good news on the local front. Let's hope that this is the start to an early and sustained spring season in the local real estate market!
Although total sales volume was down from December's 116 properties, all things considered, including 3 major snow storms and countless days involving some measure of snow accumulation, the local market activity for the month of January was surprisingly active with a decent showing of 99 new pending sales being reported. January monthly statistics that cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport reveal a respectable level of activity of residential properties that went under agreement from 01/01/2011 through to 01/31/2011. New pending sales data for January reveal a median and average sale price of $194,900. and $324,376., respectively. The median sale price measures a slight increase, up approximately 2.6% over December while the average sale price is up a total of 23.3%. As impressive as this increase in average sale price is, it is perhaps skewed a bit with two major residential properties being placed under agreement, one in excess of $3,000,000 and yet another at $5,900,000. Lastly, in comparison to the same time period in 2010, which benefited from a federal tax credit for new and 2nd time home buyers, the total sales volume for January 2010 was tallied at 102 pending sales, only 3 more than this month.
Data through November 2010, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show a deceleration in the annual growth rates in 17 of the 20 MSAs and the 10- and 20-City Composites... See full details and indeces
We can look at market surveys in so many different ways, but this simple analysis for the period ending December 31, 2010 shows a mixture of basic market indicators. First, local market activity for the month of December shows yet another dip in total sales volume with only 95 new pending sales posted for the period of 11/30/2010 through to 12/31/2010. That's an 18.1% drop in total residential sales volume from a month earlier when we reported 116 new pending sales covering the same geographic area of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. This is a very typical trend for this time of year in our area yet it marks the 3rd consecutive month of lowering sales volume. Secondly, residential properties that went under agreement from 11/30/2010 through to 12/31/2010 reveal a current median and average sale price of $189,950. and $263,135., respectively. This information shows us a large month to month drop in median sale price of 17.4%, but a slight increase in average sale price, up 0.7% from November's average sale price of $261,145.. Last but not least, year over year statistics for residential properties in the same local market area for the year ending December 31, 2010 reveal a total sales volume of 1,405 properties that went under agreement which is down from 1,501 that went under agreement during the same calendar period of 2009. That's a 6.3% drop in total residential property sales volume. 2010 realized a median and average residential sale price of $199,000. and $268,723., respectivly. While the median sale price remained nearly unchanged, (down 0.4%), year over year, the average sale price was down 5.3% from a year earlier mark of $283,738..
Question No. 1: Is now the time to buy?
Question No. 2: Is buying a house a good investment? The first answer is easy: With a few exceptions, if you have 20% to put down and good credit, now is a great time to buy. That's been the case all year, and I'd argue that we're probably closer to the end than to the beginning of the really great time. Let me explain. Back in January home prices had dropped 28% from their peak. More important, interest rates were at historical lows. By locking in a mortgage for 15 or 30 years on a value-priced home, you were getting an incredible deal, even if home prices decreased. See full article |
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