WCVB Channel 5 Interviews Anthony on Massachusetts Real Estate Market Recovery
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Related Blog: 25 Hottest Towns in Massachusetts Q1 2013
The real estate market is recovering. Some towns are seeing enormous price jumps, asking prices or even above. And you might be surprised to see which towns were the hottest.
This house in Acton sold in 11 days for $928,000. There were multiple offers.
“There are good homes on the market, that there’s a lot of initial interest. Good showings at open houses, and that multiple offers often come in; the market began to change from buyer’s market to a seller’s market.”
With limited inventory in Acton, a town with good schools and commuter rail access, the buyer offered asking price but—
“They were actually prepared to pay more for the house if he needed to do that.”
Broker Anthony Lamacchia crunched the numbers and came up with the Top 25 Massachusetts towns that have seen the biggest sales price jumps since last spring. Prices in Acton increased by 63%, just ahead of Whitinsville and Gardner.
“The trends that stuck out was that either there was new construction or they were towns that had been hit hard by the foreclosure crisis and now that a lot of those foreclosures have sold off there’s certainly improvement in those towns.”
Coming in at number 4 and 5, Roxbury with a 53% jump, and Wrentham at 43%.
All the towns had a minimum of 25 home sales and double digit median home selling price increases.
Not every home will see that kind of appreciation, but new construction and ebbing foreclosure crisis, low supply and high demand have forecasters feeling the only way to go is up.
“You will see 6 months from now when the summer stats are out for the spring overall home prices including single family homes will be up at least 5%. There’s no question about it.”
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