Our local real estate market rebounded in August from the slight seasonal pause realized in July gaining ground in both categories of volume and pricing.
Residential sales volume, coming off July's 153 residential housing unit sales, rose to 170 units in the month of August. 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 through to April, 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. Since April we've seen a 3 month consecutive drop in volume. August's numbers reversed that trend, gaining back nearly all of the 11.56% drop realized in July. All in all, the year to date trend in sales volume is positive.
On the pricing side, during the month of August the median price of homes rose 1.32% to $234,950, just under this year's high of $238,900. realized back in March. The mean price also rose, in dramatic fashion, by 8.87% to this year's high of $289,304.
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 08/01/2013 through to 08/31/2013 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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