Wednesday, October 23, 2013

Observations on home sales from Northeast Association of Realtors

Yesterday afternoon I received the following press release from the Northeast Association of Realtors.  The topic is recent trends in home sales and since it includes the communities in the Middlesex North Registry of Deeds district, I decided to share it with our readers:

Local Housing Numbers Show Improvement in All Categories

Prices and Volume are Up for Single-Family, Condominium, and Multi-Family Homes

(MERRIMACK & NASHOBA VALLEYS) — The Northeast Association of REALTORS® (NEAR) reported today that the combined sales of single family homes sold in the 15 cities and towns from Boxford to Littleton in September had a median sales price of $332,960  an increase of  5.7  percent compared with the median of $315,000  in September of 2012.  The median sales price for condominiums sold in September was $185,000, a 10.1 percent increase over the median of $168,000 recorded in September of 2013.  Multi-Family prices increased 5 percent, with a median of $252,500, compared to $240,450 in September of 2012.   This report is based on data from MLS Property Information Network in Shrewsbury. 
Commenting on the area’s home sales market, NEAR President Christopher Doherty said, “One story that shows through in our numbers this month is that the market is improving at many different price points, as 34 percent more condos were sold this September when compared with the previous September. ”  Doherty added that, “The improving numbers in terms of sales volume and prices in every home category provides real cause for optimism in our local housing market.” 
Doherty also remarked that, “Our rapidly increasing prices show that low inventory is a problem and sellers are in a good position right now, yet it is heartening that the volume of single family homes sold this September was 15.7 percent higher than September of last year, so we can see that the market is improving on all fronts.” 
                The Northeast Association of REALTORS® is one of 1,500 local chapters of the National Association of REALTORS®. Officially, NEAR covers 15 cities and towns from Boxford to Littleton, though it has members from more than 50 cities and towns in the Merrimack and Nashoba valleys as well as southern New Hampshire.  The term, REALTOR®, is a trademark for use exclusively by members of the National Association of REALTORS®, whose members subscribe to a strict Code of Ethics.

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