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April 02, 2006

Housing price seasonality in Massachusetts

Maseasonality_bw1_1Some pictures are worth a thousand words, others are worth tens of thousands in savings (or more than $100,000 in some communities in Greater Boston.)

Click on the graph above for a closer look at seasonal variation in median sales prices for single family homes across Massachusetts before making "The Big Move" this Spring, or you could be making a "Big Mistake."

Note, this graph helps explain why median sales prices in Massachusetts are down 9.5 percent from their peak last summer.  Inflation-adjusted prices are down even further.  Will median housing prices rebound this summer?  That depends, in part, on offers made by overeager buyers in coming weeks.  Peak sales prices in June reflect offers typically made in April and May.  What's our advice?  Make sure you're making the "Right Move," and don't mistake a marketing push for a market opportunity.  Asking prices will soften after the 4th of July, when it's likely we'll see a record number of listings get the "Big reMove," and savings opportunities increase for the balance of the year.

01:20 PM in Market Trends, Predictions prices will fall | Permalink

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Comments

blog's subtitle: "After years of dire warnings, will 2005 be the year the real estate market begins to deflate in Boston & elsewhere?"

It might be time to change that to "will 2006 be the year ..."

Posted by: Mike | Apr 22, 2006 11:03:40 AM

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