Have you been keeping up with recent real estate and housing market news? As your South of Boston real estate agent, I am happy to inform you that the positive news just keeps flowing in! Home sales keep rising, home prices are beginning to rise and mortgage rates are still at historic lows. This means that now is still the perfect time to buy a home in Plymouth County, but it’s also becoming a great time to sell your home in Plymouth, MA!
First off, the National Association of Realtors recently released a press release with real estate statistics from April. The results are incredible! This year’s April saw a whole 10 percent increase in existing-home sales compared to April 2011. There was even a 3.4 percent increase just from April to March. This includes homes, townhomes, condominiums and co-ops.
What does this mean? It means that homes are selling in thePlymouth County real estate market! While total housing inventory rose, listed inventory declined to 20.6 percent below what it was a year ago. There are fewer homes on the market, which is balancing the current buyer’s market with more of a seller’s market. That is making now a great time to buy andsell in Plymouth County!
Aside from home sales up and inventory down, home prices are also seeing an upturn. This is largely in part to fewer foreclosed properties on the market, allowing more bids on regularly listed homes. The median existing-home price jumped 10.1 percent from a year ago! Home prices were also up in March, which is one of the few times we’ve seen month-to-month gains in home prices.
With a record-breaking low 30-year fixed mortgage rate of 3.79 percent last week, more homebuyersare able to receive mortgage loans to buy a house. With fewer homes on the market, particularly foreclosed homes, home sellers are able to increase their asking price. All in all, things are looking up for homebuyers, home sellers and the South of Boston real estate market as a whole!
As your Plymouth County real estate agent, it’s my duty to share this vital news with you so you know that now is the time to buy a home or sell your home in Plymouth, MA! Business Insider statedthat now is the best time to buy a home in the past eight years, which is a significant statement that you shouldn’t ignore.
Most real estate professionals are predicting that this year is the start to a housing recovery that will continue through 2013, with more increased home prices. As a home seller, you could wait to see if your Plymouth, MA area home is worth more in the coming year, or you could beat the crowds and sell now! With inventory down, this is your chance to get a lot of bids from potential homebuyers seeking the low mortgage rates.
It’s up to you! When you’re ready to browse through my South of Boston real estate market listings, or when you’re ready to start the buying or selling process, contact me! I am always ready and willing to help you succeed in the ongoing American Dream.