Massachusetts Housing Market Improves
The Massachusetts Association of Realtors, which tracks monthly home sales data in the Commonwealth, recently announced that home sales are up over 26% from the same time last year, marking the eighth month in a row of year-over year increases.
President of the MAR Trisha McCarthy says there are a number of factors that point to why home sales in the past year are up in Massachusetts…
While unable to make too confident a prediction, McCarthy said that the winter’s mild temperatures gave a boost to typical sluggish winter sales and started the spring real-estate season early.
Sales prices are falling. Combined with the low interest rates, buyers are now seeing more of an opportunity to relocate.
The market does vary considerably across the state.
In Berkshire County in particular, the market seems split between North County and Southern County.
In Northern Berkshire County, prices have been falling, and now home sales are up considerably. The opposite is true for the Southern half. Chapin Fish is a real estate broker based in Great Barrington and Monterey, and President of the Berkshire County Board of Realtors.
Chapin Fish said the Berkshire County housing market as a whole remains relatively stable compared to the rest of the State. He also said that the increased sales, especially in North County, show that the economy could be improving. He also mentioned that the area’s permanent residents, as opposed to those buying summer homes, might just be ready to show a little optimism.
2012 sales may also be up from 2011, due to last year’s lower numbers after 2010’s federal First-Time Homebuyer Tax Credit.
Massachusetts Association of Realtors President Trisha McCarthy gives advice that any homeowners looking to buy or sell their homes should work with local real estate agents. She also mentioned that a national open-house weekend is approaching in the last weekend of April.