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!
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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!
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 Local market activity for the month of November, seemingly and somewhat predictably, settled down ino the 2010 Holiday Season with a lower number of pending sales posted for the period of 10/30/2010 through to 11/30/2010, as compared to the previous two months. November monthly statistics that cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport reveal a respectable total number of 116 residential properties that went under agreement from 10/30/2010 through to 11/30/2010 with a median and average sale price of $229,900. and $261,415., respectively. Although values appear to continue to remain fairly stable, November's activity marks a decline from October's volume of residential pending sales realized at 136 properties and September's that came in at 139 properties for the same coverage area.
Local market activity remains stable for the month of October. Monthly statistics that cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport reveal a total of 137 residential properties went under agreement from 09/30/2010 through to 10/31/2010 with a median and average sale price of $207,000 and $296,668, respectively. October's activity marks nearly an identical volume of residential pending sales realized in September 2010 that came in at 139 properties for the same coverage area.
Local market activity is stable August through September. Monthly statistics that cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport reveal a total of 139 residential properties went under agreement from 09/01/2010 through to 10/01/2010 with a median and average sale price of $204,450 and $250,345, respectively. September's activity marks only a very slight increase over the volume of residential pending sales realized in August 2010 that came in at 132 properties for the same coverage area. August recorded a median and average sale price of $209,900 and $248,932.
BOSTON — Sales of single-family homes in Massachusetts plummeted in July when compared to the same month last year, reversing a trend of 12 consecutive months of increases and reflecting a weakened real estate market nationally, according to two reports released Tuesday.
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