Local Real Estate Market Snapshot
The uptick in activity that we had realized during the first four months of the year, has returned for the 2nd straight month, after the slow down we saw take place from May through July.
In August the local real estate market began its rebound from the late spring - early summer dip in activity. The September numbers show a continuation of this positive trending for sales volume and pricing, despite the fact that mortgage rates have inched ever so slightly upward. This may be, in fact, the very catalyst driving the recent upsurge in activity.
It will be particularly interesting to see if this trend in the local real estate market continues or if it is proves to be just a flurry of activity comprised primarily of fence sitters looking to time their purchase in the market.
Residential sales volume, coming off August's 170 residential housing unit sales, rose to match this years' monthly high of 188 units that we saw first occurring in the month of April. This unit count includes single family residences, multiple family residences and individual residential condominium units.
On the pricing side, during the month of September, the median price of homes rose 2.11% to $239,900, eclipsing this year's high of $238,900. realized back in March. The mean price also continued to rise by 2.29% to this year's new high of
These sales statistics cover the communities 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 09/01/2013 through to 09/30/2013 in our local market area as serviced by the H3MLS-Property Information Network.
If you're ready to jump 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 nor over pay for your property, and potentially save you thousands of dollars in the process!
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