Super Bowl Sunday… and the Spring Real Estate Market Begins!

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The 2012 spring real estate market is shaping up to be a good one. If you are planning on selling your home and have been sitting on the fence trying to figure out what is the best time, now may be the right time to get going. Many indicators are pointing to a positive season.

Mortgage rates are the lowest they have been.There are many people that are seeing the benefits to make the move to buy a home so they can lock in at that low interest rate for years to come. Combining that with the affordability of homes now on the market many buyers are just waiting for their potential home to hit the market so they can take advantage of this opportunity.

With the most recent reports about the jobless rate improving many people are feeling more positive about the direction the economy is taking. Keep in mind that real estate markets are local so you need to look at your particular market area data.

Sales were up while the inventory was down in the last quarter of 2011 compared to the last quarter of 2010 in Essex County Massachusetts according to MLS Property Information Network.

We have always considered the start of the spring market to be Super Bowl Sunday. It may seem that winter has not even arrived with the warm days and very little snow. The weeks go by very quickly when you are talking real estate. Before you know it your competition has increased and weekends are filled with graduations, weddings, barbeques, and other events. The days are getting longer and with this great weather we have had no trouble getting out there to show homes. John and I are getting busier with inquiries and requests for information and home tours. What are your questions about the 2012 spring market?

– Cindy

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Comments

  1. Megan  February 4, 2012

    What’s the market like in Hamilton and Wenham?

  2. John & Cindy Farrell  February 5, 2012

    Currently in Hamilton and Wenham there are 40 active single family listings on the market and 20 under agreement. That is a lot of homes under agreement! So this market is very active. In the last six months 46 single family homes have sold. 79 homes have had price reductions and some of these had multiple reductions. Once the homes had price changes the average sale price to list price was 96% We have seen homes with multiple offers once the price is right.

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