The South Coast Real Estate Round-Up

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:

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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.