Signs of Life for Real Estate Market
May 26th, 2009
The April numbers for the Massachusetts Association of Realtors are IN and I like what I am seeing! It is starting to reflect the conditions that my team is seeing on the street. We are busy, and clients are seeing multiple offers and strong seller negotiations.
If you are shopping right now, buy or forever hold your peace.
Single family homes:
Median Prices and Number of Sales have climbed since February.
Feb $252,500 1,647 sales
March $255,000 2,234 sales
April $275,000 2,448 sales
Condos:
Median Prices and Number of Sales have rebounding since Jan.
Jan $204,000 629 sales
Feb $213,250 691 sales
March $224,500 877 sales
April $236,000 916 sales
As you readers well know, these stats also get compared to how they were at the same time last year and perhaps even historically each year. Well, those results are not as much fun to report!
April sales results have not been this slow since April 1995 for Single Family homes and April 1998 for Condos.
April Single Family home prices have dropped 13% from last April.
April Condo prices have fallen 14.2% since last April.
Last September the bottom fell out of the economy and the bailouts began. When we start comparing previous year’s results after September, our stats are going to be abnormally strong.
I won’t be fooled and I am sure my readers will not be either. I do believe that we are out of the slide in our local real estate market.
If you are a first time buyer or a “move-up” buyer, now is the time. Don’t hesitate with the best interest rates in decades, as well as affordability being the best in 30 years+.
Call our team and get in the game before prices climb again.
Ed Daniels of Re/max Executive Realty has a team working in the Metrowest Boston real estate market. Reach Ed or the other members of The MAhome Team at 508-341-7880 or Ed@MAhome.com with questions or comments.Categories: Market Conditions, Real Estate
This entry was posted on Tuesday, May 26th, 2009 at 11:08 pm and is filed under Market Conditions, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
