After two nearly identical back to back months of spring time market activity in April and May, things heat up a bit in June as the month notches increases in not only sales volume but in prices as well.
The total sales volume was recorded at 154 new properties that went under agreement during the month of June, which is a 22% increase from the 126 properties in May and well above the winter lows of 95 and 99 pending sales posted this past December and January.
New pending sales data for the month of June 2011 also indicate increases in the median and average sale prices that were recorded as $211,000. and $253,920., respectively. The median sale price shows a 0.96 % increase and the average sale price notches a 6.72% increase over May 2011.
The month of June, historically, is the most active spring time month for the real estate market in our area and, that again, is the case this year.
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 06/01/2011 through to 06/30/2011 in our local market area serviced by the H3MLS-Property Information Network.
With interest rates at such low levels and adequate funding available to qualified applicants, 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!