Sunday, January 13, 2013

2013 Will Be A Good Year To Sell A House

Concord Real Estate:
2013 Will Be A Good Year To Sell A House

If you have been thinking about selling your house but are reluctant to move in a down market, it may be time to rethink this assumption.  Concord is experiencing low inventory of available properties.  There are also a great number of buyers searching for a home.  There have been several properties in December and January that have received more than one offer as these buyers bid against each other for the limited number of houses that are on the market. This is a welcome change from the recession years since 2006 when Concord's housing peaked in value (see chart).  Single-family home sales in Massachusetts were up 29.2% compared to this time last year and median prices were up 3.5%, according to the Massachusetts Association of Realtors.  Also, the inventory of single-family homes as of November 2012 decreased 25.9% from November 2011.  High demand and low supply drives prices up. Concord remains an extremely desirable town, drawing buyers from all over the world for its top rated schools, beautiful neighborhoods, charming town center, scenic open spaces, commuter rail and close proximity to Boston.  The message from Realtors is "we have buyers and need more houses".

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