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Gloom & Doom? MAR Releases July 07 Stats

The Massachusetts Association of Realtors® has released July 2007 sales figures for Massachusetts with comparisons to July of 2006.

Despite the national media's reports of panic in the housing market, Massachusetts has experienced very little change over the same month last year. In fact, there has been some rather good news!

Single family home sales were UP 6.0%, with an increase in the median selling price of 1.3%. Not so bad! Condominium sales basically remained unchanged (-0.1%) and the median selling price increased 6.3%!

Despite the forecast of gloom and doom, interest rates are still at historical lows and sales are in most cases steady, if not increasing. Sounds like a good time to buy or sell!

Posted by Cathy Clark on 08/24/2007 07:35 AM

Comments (5)

market conditions, cape cod real estate

This post has been included in Massachusetts Information

5 Comments on Gloom & Doom? MAR Releases July 07 Stats

AUG

2007

Good report. Please send all your sellers to Bradenton, Florida (LOL).

Yes, get the good news out, the national stats are getting tiresome to listen to.

Headlines like this one from yahoo finance today are really old news (Stock Futures Dip Ahead of Housing Data)

Things have been improving here in North East New Jersey since the spring market. In some of the towns the number of homes on the market is dropping 6% to 7% every month for the past many months, and the number of homes selling each month has been increasing 3% to 4% each month for the past 4 months now. Do we hear any of this in the news? NO

James Boyer

Realtor Associate

Keller Williams Real Estate

Summit, NJ 07901

What is the sales volume 2006 / 2007???

Our median prices are up too, but on 50% volumn.

Volume actually increased from January through July 07 over the same time frame in 06. 24,451 in 06, 25,137 this year. Just like politics, real estate is all local! I have buyers in FL that would buy here in a heartbeat if they could sell the FL property!

What I find even more encouraging is that the inventory has decreased by 17%. There were 63,114 listings in 7/06 but 53,966 this year. Average days on market has increased by 14 days but that's no cause for panic.

The media can overdramatize things. MAR released these numbers on 8/20 and I have yet to see or hear anything in our local media shouting out the good news! Bad news sells advertising, I guess.

Here's a link to the press release:

http://www.marealtor.com/content/NewsTicker.htm?view=27&news_id=467&news=2

Let me try that link again!

http://tinyurl.com/2xvqm5

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