We are only a week away from the holiday season and typically, this is the time of year where the real estate business starts to wind down a little. This year, things are very different than in years past. In fact, the 2nd half of the year proved to be the busiest our office has seen in three years. As well, we are seeing bidding wars on properties that are priced to market and buyers that continue to come out in droves to take advantage of opportunities in the marketplace.
Many economists feel that this splurge in real estate sales is due to the fact that the extension and expansion of the tax credit has had an enormous impact on the market. This makes good sense if you consider the impact the Cash for Clunkers tax program had on auto sales this summer. Other local economists feel that this spark is due to the fact that unemployment rates in both MA and NH are statistically much lower then the national average so that the number of qualified home buyers in our marketplace is higher as well.
Whatever the case, the real estate market is hot! As the weather cools and the leaves on the trees are almost gone, I look forward to doing my small part in helping buyers and sellers thrive in what appears to be the best market we’ve seen in years.
Sydney Hirsch
Relocation Specialist/ Seniors Real Estate Specialist
Let 24 years of experience work for you!
413-567-5552 (Direct)
413-847-1303 (Cell)
Visit my website at www.sydneyhirsch.com
Friday, November 20, 2009
Tuesday, November 3, 2009
Plastic Fences Make Good Neighbors ?
As I drove through Longmeadow this past week I spotted the many signs of the fall season. In addition to all of the trees still ablaze with remnants of a spectacular season of fall colors, there are the many different methods that abound in Longmeadow for dealing with the leaves after they fall. Longmeadow for many years has not collected leaves at curbside so residents have had to make their own arrangements.
I've always been a little bit frustrated that the leaves from my neighbors' trees and lawns blow onto my lawn (I have no maple trees but have a lot of maple leaves)....
Here is a possible solution that one Longmeadow homeowner is trying this year....
It will be interesting to see how effective adding a 3 ft plastic fence around the perimeter of your property is to reduce the volume of leaves.
Perhaps, next year this will become a new "sign" of fall in Longmeadow
Bagging leaves on some streets is sometimes a contest to see who can bag the most leaves...
Some people rake the leaves to curbside (or into the street) and have them removed.....
I've always been a little bit frustrated that the leaves from my neighbors' trees and lawns blow onto my lawn (I have no maple trees but have a lot of maple leaves)....Here is a possible solution that one Longmeadow homeowner is trying this year....
It will be interesting to see how effective adding a 3 ft plastic fence around the perimeter of your property is to reduce the volume of leaves. Perhaps, next year this will become a new "sign" of fall in Longmeadow
Latest October 2009 Home Sales for Longmeadow
Shown below are a series of charts summarizing the latest single family home sales in Longmeadow, Massachusetts. These results include both MLS and FSBO transactions and are based upon public information obtained from the Hampden County Registrar of Deeds website.
As the peak selling months and 2009 draw to a close it appears that the number of Longmeadow homes sold in 2009 will be similar to 2008 but ~ 20-25% below the recent peak reached in 2007.
As the peak selling months and 2009 draw to a close it appears that the number of Longmeadow homes sold in 2009 will be similar to 2008 but ~ 20-25% below the recent peak reached in 2007.
There was some good news as the median price seems to be holding significantly above the low reached earlier this year (~ $320,000 vs. $296,000 in February 2009).
Other highlights of the recent sales data include:
- Median home prices in October ($320,000) are up ~8% from the February 2009 low ($296,000) but down 8.6% from the October 2007 peak ($350,000- see figure 2).
- Home sales in the month of October were lower than one year ago (10 vs. 17) and 2009 YTD figures are relatively flat vs. 2008 (136 vs. 140, a 3% decrease- see figure 1).
- A large percentage of homes continue to be sold at prices below the official assessment value continuing a trend that has been in place for greater than one year (see figure 3).
- 2009 YTD data suggest higher priced homes (>$400K) have been more difficult to sell with only 30 out of 136 homes sold were priced above $400,000.
Figure 1
[click chart to enlarge]
Figure 2
[click chart to enlarge]
Figure 3
[click chart to enlarge]
It does appear that a bottom may be forming for the Longmeadow real estate market (as well as the rest of the US). This combined with a recovery economy may lead to a more normally functioning real estate market in 2010.
Here is a link to the data for 2006-2009 Real Estate Transactions that were used to develop the above graphs.
Longmeadow FSBO
East Longmeadow FSBO
House for Rent at LongmeadowBiz
Vacation Rentals at LongmeadowBiz
LongmeadowBiz.com- Longmeadow's #1 Business and Community website
Thursday, October 8, 2009
Western Mass Real Estate Stats
Real estate stats are now in for August and are showing that single family home sales in Western Massachusetts rose 16.7 % in August, 2009, from 431 in August 2008, to 503, according to the Realtor Association of Pioneer Valley.
But the median price fell 5.5% from $210,000 to $198,500, continuing a pattern of strong sales and weak prices.
But the median price fell 5.5% from $210,000 to $198,500, continuing a pattern of strong sales and weak prices.
There were 5.9 months of supply on the market at the current rate of sale in August, compared to 7.8 months of supply a year ago. but the average home is spending longer on the market, 187 days as of 2 months ago, up from 168 days in August 2008, also according to statistics released by the Realtor Association.
Sydney Hirsch
Seniors Real Estate Specialist
Relocation Specialist
Let 25 years of experience work for you!
413-567-5552 Direct
413-847-1303 Cell
Saturday, September 12, 2009
Longmeadow Real Estate Continues to Improve
There was good news this month....both home sales and prices in Longmeadow are increasing!!
Median home selling prices in August continued to increase toward the peak reached in October 2007 ($350,000 vs. $335,000 in August). Median home prices in Longmeadow are up 8.1% from August 2008 ($335,000 vs. $310,000).
Home sales in the month of August were significantly higher than one year ago (19 vs. 12) and YTD figures improved to show an increase vs. 2008 (110 vs. 103, a 7% increase).
[click chart to enlarge]
Median home selling prices in August continued to increase toward the peak reached in October 2007 ($350,000 vs. $335,000 in August). Median home prices in Longmeadow are up 8.1% from August 2008 ($335,000 vs. $310,000).
With an increasing number of homes being sold and the accompanying increase in median home sales prices, it does appear that a bottom may be forming for the Longmeadow real estate market (as well as the rest of the US). This combined with a recovery economy may lead to a more normally functioning real estate market in 2010.
Here is a link to the data for 2006-2009 Real Estate Transactions that were used to develop the above graphs.
Longmeadow FSBO
East Longmeadow FSBO
House for Rent at LongmeadowBiz
Vacation Rentals at LongmeadowBiz
LongmeadowBiz.com- Longmeadow's #1 Business and Community website
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