South Shore Real Estate Market Report – April 2012

| May 5, 2012 | 0 Comments

Common opinion throughout the South Shore real estate industry is that the spring market has sprung to life and the housing market is coming back. The following data from April may not reflect this growing optimism. There were a total of 430 single family homes sold across all of the south shore this past April. A slight increase of only 1.65% over this time last year. (423 single family homes sold in April 2011) At the very least it can be said that a gain of 1.65% is a “gain” and we are moving in the right direction and the number of transactions completed in the first quarter would also give cause for some optimism.

The towns showing the greatest increase in single family activity over April of 2011 was Quincy, Scituate & Milton selling 10, 10 and 8 more homes last month than the year before respectively. Not surprisingly, Plymouth & Brockton recorded the highest number of transactions again for the 4 month in a row with 46 & 48 respectively.

South Shore Real Estate Single family sold April 2012*click image to enlarge

MEDIAN SALE PRICE

Brockton & Avon recorded the lowest median sale price of $150,000 last month while Cohasset & Duxbury recorded the highest at $699,000 and $579,000 respectively. However, Cohasset also record the largest DROP in median price over last April at -$176,000 . Larger drops in price and value are common in higher priced towns compared to more affordable communities.

Median Price
Brockton $149,250.00
Avon $150,000.00
Halifax $199,999.00
Randolph $200,000.00
Rockland $209,950.00
Taunton $234,950.00
Carver $245,000.00
Pembroke $250,000.00
East Bridgewater $254,450.00
Middleboro $264,450.00
Whitman $285,000.00
West Bridgewater $285,800.00
Quincy $289,000.00
Kingston $289,500.00
Plymouth $292,400.00
Plympton $296,000.00
Weymouth $299,450.00
Stoughton $302,450.00
Hanson $304,850.00
Hull $309,000.00
Bridgewater $344,450.00
Braintree $349,000.00
Milton $350,000.00
Marshfield $363,900.00
Easton $372,000.00
Canton $419,900.00
Scituate $439,950.00
Norwell $466,950.00
Hanover $469,900.00
Hingham $539,450.00
Duxbury $579,000.00
Cohasset $699,000.00

On average the median home price across all south shore towns was approximately $328,000, a small decrease from April 2011 of less than 1 percent (.38%).

AVERAGE MARKET TIME (Days on Market)

On average, across all South Shore homes sold in April, it is took approximately 3.5 months (111 days) for a single family home to get put “under agreement.” This does not include the time it takes for a transaction to move from a Purchase and Sale Agreement to Closing. Market time varies from home to home and the time it takes to close can vary widely due to contingencies, inspection issues, or administrative delays as would be the case with short sales or bank-owned property.

Avon, Pembroke & Halifax lead all south shore towns in quickest to “under agreement” with 30 – 60 days. While Kingston and Cohasset recorded significantly longer market times of almost 8 months. With market time of almost 8 months, the actual time it would take to get to a real estate closing in these towns could take as long as 9 months to a year!

South Shore Real Estate Market Time April 2012*click image to enlarge

Percentage Change in Market Time For April 2012 over April 2011
In April of 2011 the average market time across all south shore towns was 114 days. Hardly a significant change. Below is a breakdown of the increases and decreases in market time for all South Shore towns.

Change over April 2011
Halifax -62.11%
Carver -54.20%
Bridgewater -50.11%
Pembroke -40.99%
Taunton -37.75%
Braintree -34.75%
East Bridgewater -32.04%
Duxbury -29.22%
West Bridgewater -25.51%
Hanson -22.33%
Hanover -21.84%
Stoughton -19.06%
Weymouth -17.37%
Plymouth -12.39%
Hingham -12.09%
Brockton -10.87%
Middleboro -5.58%
Marshfield -3.23%
Norwell 2.77%
Canton 11.36%
Quincy 24.70%
Easton 32.74%
Rockland 36.76%
Whitman 38.10%
Randolph 38.31%
Scituate 69.57%
Kingston 75.69%
Milton 103.53%
Plympton 128.77%
Hull 164.11%
Cohasset 172.37%
Avon 300.00%

ONE SENTENCE SUMMARY

The south shore market is more active than last year but home values are not necessarily rising.

Disclosures:
1. Data summarized in “Averages” should not be used to determine any specific homes value. Each town, neighborhood and home is different and marketing strategies can vary from listing to listing. For market analysis on a specific home, consult a licensed Massachusetts real estate broker or salesperson.
2. All South Shore Real Estate data is provided by MLSPIN (PINERGY) and does not include private sales or transactions not listed on Multiple Listing Services.

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Category: Real Estate Statistics

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