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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.

Bill Wendel | 01:18 PM in Defensive Homebuying, Market trends, Price trends, Real Estate Bubble, Timing the market | Permalink


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HomePriceMaps.com/boston.htm integrates how much homes SOLD for in Boston AND Nationwide using the google mapping technology

Posted by: Abe Hoffman | Apr 5, 2006 4:11:53 PM

The graph is interesting and as someone looking to buy something I am hopeful for the market to burst and provide some bargains. Unfortunately the price graph by month can be deceiving because it just reflects the cycle for when people put homes on the market and what happens throughout the season. E.g. if it doesn't sell in the first three months then people start lowering the price. Plus when the buyers are out buying there are also more sellers so you don't find as much inventory in Nov./Dec. other than the few "bargains" out there. Anyways I just thought it would be good to not jump to the conclusion that folks selling should sell in June and buyers should buy in February. That presents some obvious problems if the advice were followed by everyone.

Posted by: Dan H | Apr 16, 2006 11:05:03 PM

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