Our local real estate market rebounded in August from the slight seasonal pause realized in July gaining ground in both categories of volume and pricing.
Residential sales volume, coming off July's 153 residential housing unit sales, rose to 170 units in the month of August. This unit total includes single family residences, multiple family residences and individual residential condominium units.
We had experienced increases in sales volume each month during this calendar year through to April, with April reaching a total of 188 residential housing unit sales, the largest jump in sales volume month-to-month, up 22.08% over March, and up 88% since January. Since April we've seen a 3 month consecutive drop in volume. August's numbers reversed that trend, gaining back nearly all of the 11.56% drop realized in July. All in all, the year to date trend in sales volume is positive.
On the pricing side, during the month of August the median price of homes rose 1.32% to $234,950, just under this year's high of $238,900. realized back in March. The mean price also rose, in dramatic fashion, by 8.87% to this year's high of $289,304.
These sales statistics cover the towns of Berkley, Dartmouth, Dighton, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal monthly activity for residential properties that went under agreement from 08/01/2013 through to 08/31/2013 in our local market area as serviced by the H3MLS-Property Information Network.
If you're ready to jump off the fence and into the local real estate 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 potentially save you thousands of dollars in the process!
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Karen Flaherty of the Kinnane Group closes on two new homes for Abel Hart Commons, Inc, owners of Old Crandall Commons and Bliss Homestead in South Tiverton, RI.
Karen coordinated the closing of the last of 14 homes built at Old Crandall Commons and the second of 9 new homes planned for Bliss Homestead. In both instances the parcels were put under agreement with custom designed homes and construction contracts with Dennis Talbot of Talbot Construction of Little Compton, RI.
While Karen admits that these transactions take a bit longer to pull togther, she's happy that what results is having been able to be part of the creation of two of the finest neighborhoods in town.
Dennis Talbot is not only the finest of people, he's a masterful craftsman, with an eye for fine design, finish detail and a desire to build top quality energy efficient homes. Karen says, "so much effort and time is put into designing the proper house for the specific site of choice for our new homeowners. Floor plans make so much sense and end up being so efficient. How the building orients on the home site and how it compliments surrounding homes is supurb". "Most of the folks we end up attracting recognize our goals for wanting to build smaller homes that are of higher quality materials and that are very efficient in layout and mechanics. These homes afford a higher degree of long term sustainability than most of our competition, translating into lower occupancy costs up front and lower building reserves over the long haul", adds Karen.
The Kinnane Group is a full servie real estate company servicing the southcoast region of Massachusetts and the east bay area of Rhode Island. Founder, Chuck Kinnane, began brokering real estate in Swansea, Massachusetts in 1960. The company is now under the direction of John Kinnane.