With Aprils results fully coming to a close and having been
recorded and studied throughout the country, it appears as though
there have been slight improvements over March of this year. The
Wall Street Journal put together an article that show results
acquired from 900 multiple-listing services across the country
compiled by Realtor.com. Whereas in some specific places in the
nation there have been listing price reductions, the whole country
(measured as 146 separate markets) showed a 0.7% increase which if
thought about on a large scale is a something to be immensely proud
of. This percentage even brought up the listing prices to their
highest fiscal level in almost a year as well.
If people are listing their prices for a higher amount on
purpose, this ultimately would be the wrong time to do so. As we
learned in a past blog, Gibson
Sothebys International Realtys own Beth Dickerson hinted to CBS Boston that
sellers are more cognizant of the market and are understanding that
their buyers are as well. When we are attempting to rebound from
tough economic times, it is more essential that we list with
knowledge and not out-price our home from its destined market.
Of the aforementioned 146 markets, 2012 compared to 2011 showed
that listing prices were up in 72 of the markets, roughly even in
14 and subsequently were down in the last 60 markets. Moreover,
looking at the past month of April compared to March, there were
hugely positive differences in that only 5 of the 146 markets
showed a decrease in their average listing prices.
Taking a closer look at Boston specifically, there was a 7.73%
increase in the inventory levels month-over-month, a 3% increase in
listing prices month-over-month (up to $339,900) and the average
days that the homes were currently still on the market was 60 days.
Throughout the recent months, especially those that have thus far
occurred in 2012, Boston has been performing at a very high level
compared to the rest of the nation. Seeing that while our 3%
increases in listing prices is fantastic, the nation as a whole
realizing a 0.7% bump is also just as impressive. An enhanced
economy and real estate market for our neighbors should only have a
beneficial effect on ours as well in the near future.
More Information: The Wall Street
Journal