As you can see our South Shore towns show quite a bit of variety in both the number of homes sold and the median selling price in 2013 as opposed to 2012. In terms of sales volume, the greatest gain was made in the town of Norwell with a 22% rise in the number of single-family homes sold. Hanover and Braintree also sold more homes with an increase of 10% and 4% respectively. These figures are in sharp contrast to the towns that saw losses. Hull fell by 30%, Scituate by 17%, Cohasset 14% and Weymouth is off slightly with a 9% drop.
Does this translate to changes in selling price? Not exactly. Cohasset, which lost 14% in homes sold, saw the sharpest median price rise of 15%. Norwell, which was the sales increase leader, also saw a median price rise of 12%. Much smaller gains in selling price were made in Braintree, Hull and Scituate with increases of 5 to 6%. Weymouth inched up just 1% over 2012. Two towns, Hanover and Hingham saw significant drops in the median selling price of 11% and 15%.
Can we draw any conclusions from this data? The strongest take-away is probably that the market has not yet stabilized. The challenge for both buyers and sellers in evaluating listing prices is now trickier than ever. For advice on selling your home or buying a home on the South Shore, I urge you to seek the advice of a Realtor. If you wish, drop me a line or give me a call and we can discuss your specific situation with no obligation.
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