http://www.cnbc.com/id/101043610#!

Frank Keane Real Estate Frank@frankkeanerealestate.com 781-205-9721

2012 Reading Real Estate Year in review

                Frank Keane Real Estate

 Frank@frankkeanerealestate.com 

781-205-9721

2012 was an interesting year in Reading, Home sales were up 28% from the previous year, in terms of number of single family units sold. The prices averaged 3% higher but there was an interesting abberation  homes under $500,000 went up 5% while homes over $500,000 declined 3%

The sales time, ie days on market for under $500,000 remained stable while the over $500,000 jumped almost a month.

Colonial homes once again were the leader in terms of style of home sold, followed by Capes, Ranches and Split Entry.

Colonial style homes also showed the greatest degree of change, dropping to 49 days on average from 2012. .On the flip side, ranches and splits remained fairly static at 68 days

At the end of the year there was one of the smallest amount of inventory for sale, roughly 5 1/2 weeks.

Real Estate brokers did a very good job of pricing with the average of sales price to original list price of 96%

For those sellers who are trying to determine a value on their own, the average sales price to assessed value was 91%. Of course with averages there can be wide swings dependent on numerous factors

Analysis

For sellers, the first to put their homes on the market are likely to reap the highest sales price as the number of buyers looking in Reading will cause multiple offer situations. As the year progresses and more inventory becomes available, buyers will have more options to chose from, thus reducing the price pressure

For buyers, rather than focus on new listings, look at listings that have been on the market for a long time. These may have been overpriced and susceptible to lower offers. Once more inventory is available,  the pressure to reduce prices will be that much greater

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Frank Keane Real Estate Frank@frankkeanerealestate.com 781-205-9721

Franchisors offering buyers 'Home Price Protection' | Inman News

Franchisors offering buyers 'Home Price Protection' | Inman News

Boston Globe article on Mass Real estate upswing

http://www.boston.com/business/articles/2010/04/01/real_estate_market_hopeful_but_wary/

Frank Keane Real Estate
Frank@frankkeanerealestate.com
781-205-9721