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Health & Fitness

What's your opinion on the Massachusetts Real Estate market?

I would like to ask you for your opinion on Home Inventory levels (the number of homes for sale) here in the Massachusetts Real Estate market.  For months now home inventory levels have been dropping.  There is a variety of data out there on home inventory but I will summarize my findings.  As of November 15, 2013 there were about 17,584 single family listed for sale in Massachusetts per MLSPIN, at the current pace of sales that represents approximately 4.5 months of supply.  A seller’s market is considered to be in place when inventory levels dip below 6 months, a point at which Buyer demand out paces Sellers supply.

There is so much written in today’s headlines about the strength of the Massachusetts real estate market.  Home sale prices continuing to increase quarter after quarter, mortgage interest rates at historic lows and a  Federal Reserve Policy which seems focused on keeping  the real estate market strong.

However, with all these variables contributing to a STRONG sellers market here in Massachusetts, homeowners don’t seem eager to capitalize on home sale prices that are near the 2005 peak.  Some may point to seasonality with the holidays just around the corner, but home inventory levels have been decreasing since May 2012.

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I would welcome your thoughts, opinion and insight regarding Homeowner interest in this sellers market.

Thank you in advance for your feedback, Roger

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ABOUT THE AUTHOR: Roger Martin is a Realtor with Century 21 Commonwealth.  Roger is a unique blend of both Realtor and licensed General Contractor with over 20 years of experience building Custom Homes, Renovation and Design.  Serving the Ashland, Brookline, Chestnut Hill, Concord, Dover, Framingham, Lexington, Marlborough, Natick, Needham, Newton, Sherborn, Sudbury, Wayland, Wellesley, Westborough, Weston and surrounding areas.  If you have questions, comments or suggestions for future articles or have interested buying or selling a home, please feel free to contact Roger at (p) 1.508.598.1934 ; (email) rogermartinre@gmail.com or visit my blog at  www.realestateinmassachusetts.org

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