This post considers a number of towns on the South Shore. We’ll look at homes for sale and the listing price over the past year. Are you in the market now as a buyer or seller? This information, together with a skilled Realtor can significantly affect your experience. (Note: Click on a chart for a larger view.)
In Braintree, the number of homes for sale has fallen since mid June although there’s been a slight uptick in the past few weeks. Take a look at the listing price chart. It’s been on a steady upward climb since its low in May. Now is clearly the time to sell. For buyers, accurately estimating the value of your home has never been more important.
Listing prices in Cohasset show a long-term increase with a slight decline since early August. While there was a slight drop in inventory from mid-June to early July, the long-term trend since the beginning of the year is upward. This seems to fly in the face of logic but probably reflects the unusual nature of the high-priced Cohasset market.
What forced listing prices down? Perhaps the mid-June bump in inventory pressured sellers to lower their asking price. Since then, inventory has fallen dramatically with a slight increase in the past couple of weeks. That inventory drop was matched by an increase in listing prices from early August through today.
In Hingham, listing prices have been remarkably stable over the past year. Inventories fell somewhat from their early June high and that may be responsible for the slight increase in listing price during the same period.
Hull has defied supply-demand logic by showing an increase in inventory as prices have risen.
Norwell shows remarkable growth in listing price from an early February low of $650,000 to an early April level of over $800,000. And the beat goes on with current average listing prices well over $800,000.
As prices in Norwell rose, so did the inventory of homes available for sale. Perhaps this is a reflection of pent-up seller interest following their seeing rising prices.
Inventories fell through the first of the year and have been on a gradual increase since then.
Again, Scituate follows the pattern of Norwell in Hull with a dramatic increase in listing inventory since the beginning of the year.
The number of homes available for sale in Weymouth has been relatively constant since the beginning of the year.
This review covers quite a few towns on the South Shore with only brief highlights of each market. I welcome your comments and would like to go into individual towns in depth with you.
You can comment here or drop me a note.
Thanks for reading,
Click here to send me a note –> Bob Mitchell 617-510-5106