Homes for sale: Buyer’s or Seller’s Market? Where do you live?

2013-10-btree-invThis 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.)

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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.

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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. 2013-10-coh-invThis seems to fly in the face of logic but probably reflects the unusual nature of the high-priced Cohasset market.

2013-10-han-priceHanover has fallen from its first half of the year peak to a low in early August. About half of the listing price activity has been recovered since then.2013-10-han-inv

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.

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In Hingham, listing prices have been remarkably stable over the past year.2013-10-hin-inv Inventories fell somewhat from their early June high and that may be responsible for the slight increase in listing price during the same period.

2013-10-hull-priceIn Hull, listing prices on average increased from just under $400,000 at the end of February to nearly $550,000 by early July. Since then, listing prices have eroded somewhat to about $500,000.2013-10-hull-inv

Hull has defied supply-demand logic by showing an increase in inventory as prices have risen.

2013-10-norw-priceNorwell 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 $800,000.2013-10-norw-inv

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.

2013-10-qui-priceHomes in Quincy show a steady increase in listing price.2013-10-qui-inv

Inventories fell through the first of the year and have been on a gradual increase since then.

2013-10-sci-priceSimilar to Norwell and Hull, average listing prices in Scituate have seen a steady climb since January.

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Again, Scituate follows the pattern of Norwell in Hull with a dramatic increase in listing inventory since the beginning of the year.

2013-10-wey-priceWeymouth joins Quincy, Braintree and Hingham with gradual increases in listing price.2013-10-wey-inv

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

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