There is good news to report for people interested in the health of the Massachusetts housing market: last month's home sales hit their highest monthly mark in almost a decade.
September proved to be an excellent month for the state's residential real estate market. According to the Warren Group, last month marked the highest September sales of single family homes of any September in the last eight years. Sales were up 16 percent over last September's figures and prices of sold homes increased over last year's numbers by nearly 16 percent.
Even though fewer homes are on the market than were in the past, the local housing market is truly proving that it is on the road to recovery. Condominium sales and selling prices across the state have also risen based on last month's figures, demonstrating that the recovery is occurring over various housing markets.
Experts suggest that the housing recovery will continue if hesitant sellers take the plunge and put their properties up for sale. With interest rates still low, interested buyers will continue to snatch up properties that are available to them.
For those people who are interested in buying or selling a home but just do not know where to start, a good first step can be to contact a real estate professional with a legal background to become educated on buyers and sellers' rights throughout a contractual real estate relationship. Real estate agreements can be detailed, lengthy documents full of confusing clauses and jargon and working with a trusted real estate professional can help ease a buyer or seller's concerns over entering into a real estate transaction.
Source: Boston Business Journal, "September home sales hit highest level in Massachusetts since 2005," Thomas Grillo, Oct. 22, 2013