We thought it was good news when we reported August as the top producing month for the year so far, but we now see that September gains that title by just barely outpacing August in total sales volume.
The total sales volume in our local market area continued to show strength after we saw 156 properties go under agreement in August. September posted just slightly more new pending sales as 159 new residential properties went under agreement during the month. This edges out the month of August by a mere 3 properties to claim the title as top producing month of the calendar year 2011, (so far), and the second consecutive month of growth to report in sales volume.
In a quick recap of the last four months in our local market area we had seen June as the top producing month with 154 properties, then a drastic drop off in July at 119 properties, rebounding back to 156 properties in August and now we've posted a new high for the year at 159 properties in September. Three out of the last four months showing a very respectable strength in total sale volume is certainly good news.
Although its not the only reason for the increase in sales volume, historically low mortgage interest rates appear to continue to motivate some folks to buy now. Work loads for local real estate appraisers has also continued at a fever pitch with people refinancing and taking advantage of the lower mortgage rates.
The volume of pending sales statistics cover the towns of Dartmouth, Fall River, Little Compton, RI, Somerset, Swansea, Tiverton, RI, and Westport. They reveal an increased volume of monthly activity for residential properties that went under agreement from 09/01/2011 through to 09/30/2011 in our local market area serviced by the H3MLS-Property Information Network.
The total sales volume in September represented a 1.923% increase over the 156 properties that went under agreement during the month of August. Additionally, pending sales data for the month of September 2011 indicated a 9.319% decrease in the median sale price recorded at $198,500. yet a 2.126% increase in the mean sale price that was tallied at $247,736.
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!
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