Seeing Signs of a Market Rebound

According to statistics taken from the Registries of Deeds by the Warren Group sales of single family homes in Massachusetts rose 27% in July 2012 as compared to July 2011. This is good news.

And according to the same report prices are also holding their own. In fact median prices have actually increased 1%. Obviously, one percent is not a hugely significant amount, but coupled with the huge increase in sales these might just be a real indication that the market has turned the corner. By the way with this increase the median single family house price in Massachusetts is $318,000.

The Warren Group also reported positive statistics for Condo sales, volume was up 34% in July with a median price of $295,000.

In a boston.com article Cory Hopkins, editorial director of the Warren Group cautions not to over react to the good news:
"There are a lot of good signs pointing toward a real estate recovery...“But we are comparing sales to a very depressed market last summer, so it’s important to step back and realign expectations.” (boston.com)

Regardless, recent indicators have all shown positive signs for the Massachusetts Real Estate Market.