The South Coast Real Estate Round-Up

 The number of homes listing in February jumped 138% from the previous February.

There were 31 single family homes listed for sale in February compared to just 13 last February. That’s a 138% increase from the previous year.  This is good news for our inventory staved market. And more inventory means more options for buyers.  

Months of supply jumped 195%. But even with that large jump there is still only 1.18 months of supply on the market. Well below a healthy real estate market.  

Days to an offer was only up slightly, going from 21 days last February to 24 days this February.  

And, even with the higher interest rates side lining many buyers the median sales price was up 2.33 % to $375,000.  

Of course, all real estate is local, so let me know if you want to know more about what is happening in your neighborhood and if you like these updates, please like and subscribe so you can stay in the know.

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Posted by Christopher Terry on March 12th, 2023 12:17 PM

Open House - Saturday, February 18th, 12:30 - 2

506 Ludlow St. Fall River MA 02721

506 Ludlow St Fall RiverOffered at: $319,900 | 3 Bedrooms | 1.5 Baths | 1320 S.F. Living Area 

Welcome to 506 Ludlow Street located in the Maplewood neighborhood of Fall River MA. This single level ranch style home has over 1,300 square feet of living space with 3 bedrooms, and 1.5 baths. As you approach the property you will notice the ample parking and 2-car carport. The home sits on a large lot, providing plenty of room for outdoor entertaining, gardening and play. Its charming brick and vinyl exterior and well-maintained lawn are sure to catch your eye. Inside you will find a spacious living room warmed by natural light from a picture window, a county kitchen with a great storage and counter space, and a formal dining room off the kitchen that is perfect for hosting the holidays. Plus, there is a mud room entry off the kitchen that also leads to a nice size deck in the back yard. The basement is unfinished and offers great additional storage space, laundry hook-ups, a workshop and a half bath.

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Posted by Christopher Terry on February 16th, 2023 2:06 PM
January 2023 versus January 2022 year over year comparison.

Current Listing Data

Inventory, or should I say lack of inventory continues to plague the single-family housing market in Fall River MA. Last year there were 27 new homes listed in January, this year 25, both years being well below the normal inventory levels. The median list price in January 2022 was $399,900, this year it was $429,900, up a little over 7% with days on market doubling to 60 days.

Pending Data

The median list price for pending sales was $374,000, in line with last January’s numbers, however the year over year days to an offer doubled to 38 days.

Sold Data

The number of units closed in January was down 26.7%, with a median sales price of $380,000, up just 1.9% from the previous January with days on market being just 23 days. What is interesting to note that the list price to sells price ratio that was 100% in January 2022 has dropped to 96.7% in January 2023.

This information shows in interesting trend of more time on market for homeowners. Going from just 23 days for sold listings to 38 days for pending listings and 60 days for still on market listings. There is also a large price difference between the median pending prices and the new inventory list prices. This maybe one reason why the added length of time on market for current listings as buyers wait for sellers to make price improvements.

Of course, all real estate is local, and this data is for all of Fall River, so let me know if you want to know more about what is happening in your neighborhood and if you like these updates, please like, and subscribe so you can stay in the know.

I’m Christopher Terry with EZ Home Search Real Estate and RememberYes, you can buy.Yes, you can sell.Yes, I can help.

*All information referenced shows median data from MLS PIN area market reports.

Posted by Christopher Terry on February 10th, 2023 5:33 PM


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