Local Market Update - May 2013
The local real estate market in May remained active, however, it leveled off just a bit. Residential sales volume, coming off April's high of 188 residential housing unit sales, totaled 181 units in the month of May. 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 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. The total for the month of May represents 3.72% drop in sales volume.
On the pricing side during the month of May the median price of homes held steady, unchanged, at $209,900, while the mean price rose dramatically gaining back all of its loss posted in April and gaining an additional 4.4%, rising to $272,147.
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 05/01/2013 through to 05/31/2013 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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