Every month those of you that read my blog know I like to put together my local Real Estate reports in a number of towns around the Metrowest area including Hopkinton, Holliston, and Ashland Massachusetts.
After working on my reports over the last few days I saw something that came as somewhat of a mild surprise. Sales in the month of November were up substantially year over year as compared to 2008!
The figures below were certainly nothing to sneeze at! In fact this was one of the largest jumps I have seen in comparing a month of sales in 2009 v.s the same month in 2008.
Here is a quick look at the three towns mentioned above:
# of sales November 2008 # of sales November 2009
Hopkinton 8 13
Holliston 2 15
Ashland 5 20
* These figures only include single family homes and not condominiums or multi-family sales. Information taken from MLS pin.
While I expected the numbers to be better than last year it really blew me away by just how large a margin home sales have increased. Year to date there have been 138 homes sold in Hopkinton. At the same point in time last year there were 121 homes sold. In Holliston it is 116 homes sold v.s 99 at this point last year and in Ashland it is 121 to 111.
So what are the contributing factors to the improvement in sales? I would venture to guess it is number of things including the 1st time buyers tax credit, a continued low interest rate environment, and lastly more realistic pricing on the part of many home sellers.
While the luxury home market is still suffering, home values in the rest of the market have really started to stabilize. While I am cautiously optimistic, these indicators show we have probably seen the worst of the great Real Estate correction.
Since the peak of the Real Estate market in the Spring of 2005, the last four years have been marked by unrealistic pricing, bloated inventories, short sales, foreclosures and much longer days on the market. Could we be seeing signs that these trends are behind us?
It is quite possible the light at the end of the tunnel is finally here! Here is a toast to a great 2010.
About the Author: The above Real Estate information on the Metrowest Real Estate market was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at firstname.lastname@example.org or by phone at 508-435-5356.
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I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.
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