Despite being the shortest month of the year, even during a leap year, Februrary experienced an abnormally high level of market activity. The market in February rebounded, with solid numbers, from the dip in activity we saw in January and posted gains in sales volume as well as in pricing categories.
In January 2012 we logged 101 new pending sales coming together in our local market service area. That represented a 12.17% decrease in overall sales volume, month-to-month, from the 115 new pending sales realized the month prior. However, in February we gained back that loss, and then some, posting 122 new pending sales, representing a 20.79% increase in sales volume, month-to-month.
Likewise, in January we had seen that both median and mean selling prices post significant drops when compared to December 2011. However, during the month of February we see that the median price moved up to $184,900, increasing 8.77% from the month earlier. Additionally the mean sale price rose by 4.86% for the month tallied at $201,003.
These sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal monthly activity for residential properties that went under agreement from 01/01/2012 through to 01/31/2012 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 to help you out along the way!
We are ready to serve all of your local real estate appraisal and brokerage needs. Our coverage area includes the southcoast region of Massachusetts and the east bay region of Rhode Island. Please feel free to contact us today!