Today's Springfield Republican has a front page story entitled "Real Estate Market Not So Bleak in WMass" with the basically the same theme as our post earlier this week.Statewide Single Family Home sales- 43,379 in 2006 to 41,510 in 2007, a 4.3% decrease
Pioneer Valley Home sales- a 10.7% decrease
Longmeadow home sales- 189 in 2006 to 198 in 2007, a 4.8% increase.
Statewide Median prices- decreased from $350,000 in 2006 to $345,500 in 2007, a 1.3% decrease.
Pioneer Valley median prices- a 1.5% increase to $210,000
vs. Longmeadow median prices- from $339,000 in 2006 to $348,000 in 2007, a 2.7% increase.
The key message... with mortgage interest rates moving significantly lower... now may be a great time to buy a home (in Longmeadow) if you are planning to live there for 4-10 years. Sitting on the fence waiting for a "better buying" opportunity may prove to be a poor bet- only time will tell.
vs. Longmeadow median prices- from $339,000 in 2006 to $348,000 in 2007, a 2.7% increase.
The key message... with mortgage interest rates moving significantly lower... now may be a great time to buy a home (in Longmeadow) if you are planning to live there for 4-10 years. Sitting on the fence waiting for a "better buying" opportunity may prove to be a poor bet- only time will tell.
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