Does it look like the housing market on the south shore is improving?

Well, we've been reading positive reports about the housing recovery in the national media lately.  Let's take a look at some June numbers* to assess how the south shore is doing.  There are definitely positive numbers to maybe get excited about.

The market trends:

Sales of single family homes and condos on the south shore in June, 2012 were up 18% (536 units) over June, 2011 (455 units), which is a very positive sign.  Prices, however, were down slightly (1%) in June, 2012 compared to June, 2011.



Inventory of homes for sale remains a concern as we see a 14% decrease in homes available in June, 2012 (2894 units) compared to June, 2011 (3361 units).  This translates to 5.4 months of supply and the market is considered balanced when there is between 7.5 and 8.5 months of supply.

The average days on market decreased three days in June, 2012 (149 days) compared to June, 2011 (152 days) while the number of June, 2012 pending single family homes and condos put under agreement was 31% above the same period in 2011 (575 units in June, 2012 versus 439 units in June, 2011).

Looking at some standouts in individual towns:
Cohasset (125%), Duxbury (137.5%), Hanson (166.67%), and Pembroke (200%) were the percentage winners in single family home sales in June, 2012 versus June, 2011. Overall, out of the 18 towns covered by the Plymouth and South Shore Association of Realtors, 13 towns were even or ahead of single family homes sold in June, 2012 compared to June, 2011.  Only 7 towns, though, showed a median price increase in June, 2012 compared to June, 2011.

Condo sales were up 28.57% in June, 2012 compared to June, 2011 while the median price rose 6.94% over the same time period.

Mortgage rates remain near record lows so this could be a good time to sell or buy a home on the south shore.

If you, or anyone you know, is interested in selling their home or purchasing a home, please have them contact me for a free one hour consultation with no obligations.  Contact David Foley at 617-388-0861 or send an email to davidfoley@comcast.net today!!

* Based on information provided to and compiled by MLS Property Information Network Inc., covering the periods June 1, 2011 through June 30, 2011 and June 1, 2012 through June 30, 2012.

Contact me for a FREE Home Market Analysis
David Foley Realty - Keller Williams
617-388-0861
www.David-Foley.com