The South Coast Real Estate Round-Up

Real Estate Market Report for Bristol County MA

November 29th, 2014 7:33 PM by Christopher Terry

MLS PIN has released its 3rd quarter market watch report. It reveals some encouraging news for Bristol County.

Year-to-Year in Bristol County sales prices are UP, the number of homes for sale is DOWN, the months of supply are DOWN, and days on market are UP. It exactly what would be expected. When prices go up it takes longer to find buyers so days on market go up.

The graph above shows that the number of homes for sale has steadily declined over the last 3 years. If you have been in the market to purchase a home over the last few years no doubt you have noticed that there are fewer homes on the market. Fewer homes for sale, plus more closed sales over the last 3 years has resulted in increased sales prices. There was a slight decline in units sold (0.9%) so we will have to watch to see if that trend continues.

Median sales prices in Bristol County are approaching 1st Quarter 2008 levels. Let take a closer look median price and the 1 year % price change for specific zip codes:

ZIP Code Median Sales Price 1-YR Price Change 
 02720 $224,000+7.6% 
 02721 $202,000+8.6% 
 02723 $182,500+4.3% 
 02724 $182,000-7.8% 
 02725 $208,000+4.0% 
 02726 $248,000-5.3% 
 02777 $240,750+5.6% 
 02790 $304,000-2.7% 

Don't see your ZIP Code? Want More? Click Here for the Full Report.

So what does this all mean? Well, if you're thinking of selling the market is looking good. Inventory is DOWN and Prices are UP! And if you are thinking about buying interest rates are near record lows resulting in excellent home affordability. Plus new financing options, like Buy Fall River Now, are making getting into a new home even easier.  
* Graphs and Market Data Provided by MLS PIN 

Christopher Terry is a licensed real estate broker in Ma and RI, has completed the Accredited Buyer Representative Certification, is a graduate of the Certified Distressed Property Institute, holds the prestigious CDPE designation, is a 4-Time winner of the Master Sales Society's 5/50 Award and is the founder of EZ Home Search Real Estate Inc.

Posted by Christopher Terry on November 29th, 2014 7:33 PM

Archives:

My Favorite Blogs:

Sites That Link to This Blog:


English French German Portuguese Spanish