NORWELL, MA, .......Veteran real estate analyst Walter Hall, Chairman of HouseSavvy (housesavvy.com)
This optimistic evaluation comes in the aftermath of an 18% month-to-month sales increase, and a three-month period when sales activity increased by 44%, from 1,617 homes sold within the Greater Boston area in January to 2,863 homes sold in April. Moreover, the last three month period saw a 9.6% increase in the average sale price – from $351,200 in January to $364,000 in April. This period of increase followed nine straight months of price declines.
In addition, unsold home inventory is in the very healthy range of a “Balanced Market” after dropping over the last six months from an eight-month supply in November to a 5.15-month supply in April.
“Absent any national crisis that might severely dampen consumer confidence, it appears that the Greater Boston Market is definitely on the upswing,” said Hall.
This most recent analysis is based on information compiled by the HouseSavvy Research department, which compiles and analyzes local, regional and national real estate and mortgage data on a daily basis and reports it monthly. HouseSavvy analyses sales activity, average sales prices and supply of listings in 12-month and three-month overviews.
In addition, HouseSavvy publishes its proprietary “Market Snapshots” review, which each month spotlights two towns/cities within each county in the Greater Boston area, including Bristol, Essex, Middlesex, Norfolk, Plymouth and Suffolk counties.
Details of the Greater Boston Real Estate and Mortgage Market are available to all at housesavvy.com in the “Timely Market Info” portion of the site’s “Ask HouseSavvy” section.
