Month: December 2009

Newton Homes Sales Double Year over Year in November

The National Association of Realtors released their findings regarding existing home sales for November year over year. As we expected to see, judging from how busy we are, Boston volume increased 58% over November 2008. Newton saw almost a 100% increase year over year. Just 19 house sold during the month of November 2008 vs. 36 this November. We expect this trend to continue in terms of volume, however we do not foresee accelerating prices in 2010.

Median Price % Change from 1 Year Ago

# MSA Nov-08 Nov-09 Price Sales
1 Atlanta 126,300 129,300 2.4% 33.4%
2 Baltimore 253,400 241,300 -4.8% 80.8%
3 Boston 334,000 333,400 -0.2% 58.2%
4 Cincinnati116,900 123,700 5.8% 30.0%
5 Dallas 134,300 142,400 6.0% 31.7%
6 Houston 137,500 152,100 10.6% 32.8%
7 Indianapolis 97,700 114,800 17.5% 14.2%
8 Kansas City 128,500 n/a n/a 55.1%
9 Miami/Ft. Lauderdale 225,600 209,500 -7.1% 54.1%
10 Minneapolis175,000170,000 -2.9% 67.0%
11 New Orleans155,000162,800 5.0% 48.0%
12 New York 391,900 372,500 -5.0% 44.4%
13 Philadelphia216,000 211,100 -2.3% 71.2%
14 Phoenix 155,100 145,800 -6.0% 37.8%
15 Pittsburgh 110,700 114,100 3.1% 48.3%
16 Portland 266,900 235,900 -11.6% 72.8%
17 San Antonio 142,200 140,200 -1.4% 58.4%
18 St. Louis 112,000 128,000 14.3% 51.4%
19 Washington DC 289,900 306,900 5.9% 31.8%

**NOTE: There may be differences between this data and locally reported data because of differences in geographic coverage area and housing types.


Selling Your Home During the Holiday’s

December is upon us and feeling overwhelmed will be commonplace. The seasonal to do list is endless with shopping, entertaining, decorating, work obligations along with the ramped up versions of our childrens activities. The added burden to keep your home in “showtime condition” just might be the last straw. I understand the thought process, if you are too busy, certainly the buyers are also too busy. You may feel as if your efforts will be for naught for such little activity-but how is your house going to sell if it isn’t on the market? Buyer activity does slow down to some degree over the holiday period, but inventory also drops considerably. Motivated buyers continue to look in December. Declining inventories usually translate into higher prices. I am not suggesting that your home is going to shoot up in value because it’s the holiday’s. I am suggesting that waiting until the spring for your garden to look pretty will not get you a higher price. Why, because the inventory will start rising as spring approaches. Real estate is quite simply a supply and demand business.
I have often heard buyers say, “where will I put the tree”, or can I get everyone around the table for Thanksgiving and Passover? Realtors always stress de-personalizing a home so buyers can imagine themselves with their things and not yours. Unfortunately, I sometimes think that some homes take on a sterile lifeless look if not done carefully. Most houses exude coziness during the winter holiday season; a fire burning in the fireplace, cookies baking, and greenery all evoke a feeling of warmth. When is your home ever more inviting?
With reduced inventories and motivated buyers you may find that you truly do have something to celebrate this holiday season; you may experience a touch of nostalgia about this house, but you will also be energized by the prospect of creating new memories in your next house.