The beat rolls on in Massachusetts real estate with housing costs only continuing to impress. The absence of inventory yet spike in demand is much of-the reason for this, and now vendors are beginning to take notice and replenish the market’s available houses for sale.
This rise in the costs for single family homes reached $ 313, 000 in April, which Easton Real Estate as a result was the seventh consecutive month where such month-over – month increases have been achieved. Moreover, across the region there were 20 metropolitan areas measured in the study and each one of them displayed higher home values in March, 2013 over March, 2012. The State of Massachusetts continues to improved the numbers realized on a nationwide basis.
although the rapidity at which they’re selling is at much less times on the market than in months from the previous, house sales have dropped somewhat. as a result, there are far less quality alternatives for prospective buyers to select from. In April from this year, just 3,504 single family homes were sold, this down 1% from the amount sold in April of 2012. Evidently, it isn’t a sign of an under-performing real estate market that has seen sales drop, only the unwillingness amongst vendors to enter the market; however this supply is finally growing at a much more healthy rate for the business.
Expert on the issue of these data regarding single family homes, Timothy M. Warren Jr., remarked that, “There is high demand and low inventory this spring, that is causing this pattern of rising prices and dropping sales volume. Low mortgage rates and steady home values are helping buoy consumer confidence.” With condos, much of the same story holds true. An impressive 8 % year-over – year increase in sales occurred between April of this April and year from a year prior. The costs for condos also followed this improving style, but just by 1 % to a price of $ 280, 000. Kimberly Allard-Moccia, who works closely with these numbers, concluded on these findings by stating that, “With home costs improving, vendors are finally gaining the confidence they have to list their home. This should help move us closer to a more balanced market.”