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Yvonne Thomp…, Real Estate Pro in Plainville, MA

What percentage has the market declined in the past year?

Asked by Yvonne Thompson, Plainville, MA Wed Sep 26, 2012

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5
Since December,
I think there's a house in Brooklyn that went down,
other than that; I doubt that there's a one.

ps. Actually, that house in Brooklyn was over-priced.
0 votes Thank Flag Link Fri Sep 28, 2012
Location, property type, price point, etc. will affect the answer to your question.
For the most part, MA has not seen much of a decrease.

There are specific areas that are up and others that are down.
They average to stability over all in MA.


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0 votes Thank Flag Link Fri Sep 28, 2012
Hi Yvonne,

Both Sarah and Louis are right on. I'd like to add that in addition to the information varying for specific geographic markets, it also varies within price points in a market. We are seeing inventory shortages at certain price points, while there's still an inventory surplus at others.

Looking at broad trends is further complicated by the mix and nature of properties in the sales data. A market with a higher mix of bank owned properties may show a decline in price because these properties often have condition issues that must be addressed by the buyer. That same market can actually have an increase in values when distressed sales are eliminated from the data.

The best approach is to contact a local realtor and talk to them about trends and activity in the segment of the market that specifically relates to your real estate needs.

Good Luck,
Wayne
0 votes Thank Flag Link Thu Sep 27, 2012
Louis is correct, this is very specific in different markets. One area may have shown a significant increase, another a decline. Also, percentage could be measured in number of sales, sale price, etc.

If you post specifically, many times a local agent in the area you are asking about will chime in :-).
0 votes Thank Flag Link Wed Sep 26, 2012
Yvonne,


Much will depend on the area your talking about and whether your talking about sales volume or sales price.

Some markets have seen increases over the last year in both areas and continue to be strong presently.

This information is readily available thru search criteria that you want to compare in our mlspin.

Louis
0 votes Thank Flag Link Wed Sep 26, 2012
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