The housing market in the Greater Fall River, MAÂ area for the period of January through May is showing improvement this year over 2011. The number of single family home sold during this period is up 23% over last year, while the median price dropped 3%. The areas measured include Fall River, Assonet, Freetown, Dighton, Somerset, Swansea, Westport and Dartmouth. The total number of single family homes currently for sale in the area has dropped significantly from a total of 923 units to 765, or a decrease of 17% while the median asking price has remained constant.
Statistics for sales for the individual municipalities vary greatly from town to town. Dighton saw a 17% drop in the number of sales while Freetown enjoyed a 65% increase.Â Every town is showing a decrease in available inventories of homes with the exception of Berkley which has 1 more home fore sale this year as compared to last. Median Sale prices were split with 4 communities showing increases and 4 showing decreases in sales price.Â Similarly 5 communities have asking prices lower that last yearsâ€™ median asking price and 3 communitiesâ€™ median asking price has increased.
Overall, more real estate is changing hands in the Greater Fall River area in 2012. Interest rates are at all time lows and buyers should be out there shopping, but with current inventories dropping, pricing could start to moderate or possibly start to increase.
View the statistics for each individual city and town in the Greater Fall River area here.
To learn more about the Greater Fall River MA area, visit my website at www.stevew-homes.com or contact me directly at 508-558-8035.