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Are we at the end of the spring market or the peak? Will more houses be coming on before Mem. Day wkd?

Fri Apr 18 2008, 10:58 - 02043 - Home Buying - 3 answers
 
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Katherine
Home Buyer
in Quincy
Katherine, Home Buyer in Quincy in Quincy
Answers (3)
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Greg Kiely was FIRST TO ANSWER
The spring market usually starts much earlier than what it did this year likely due to what is happening in the general real estate market. I bet we see some not-so-standard "peak" patterns, such as properties coming on the market in larger amounts than usually seen throughout the summer. Again, just a prediction. Until the market has completely corrected itself (which could likely take another year or so) some very un-traditional market patterns may occur. Bottom line, though, all this is hard to measure with certainty.

Good luck!!

Sat Apr 19 2008, 08:25
Web Reference: http://www.territoryre.com/About_Us.php
 
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Hi Katherine, timing the spring market is very difficult. We're seeing a brisk market right now with lots of activity in most price ranges. I'd say we are nearing the peak but with interest rates still good, I think the activity is going to continue for a bit longer. Right now there are 56 single family homes in Quincy "Under Agreement." The prices range from $164,900 - $699,000. The average list price is $355,000. The average days on the market is 101 for these listings, with the lower priced homes moving much sooner. Any time is a good time to become active buyers or sellers. The key is to do your homework when figuring pricing.

Good luck,

Dick

Fri Apr 18 2008, 12:12
 
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FIRST ANSWER
Katherine, I would guess the peak. There was a delay to the start of the "Spring Market" this year as everyone in Greater Boston held out to see what would happen. Inventory inside of 495 was stable enough that people felt comfortable introducing new property to the marketplace. While I would expect steady entry into the market over the next couple of weeks, I wouldn't guess that we'll see a spike any time soon.

Fri Apr 18 2008, 11:04
Web Reference: http://www.gregkiely.com
 
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