January's Local Market Data Measure Up

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.

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