Today, in our ongoing series about local real estate markets, we’ll take a look at home sales and trends in New England and the Northeastern US.
Let’s start with Connecticut. Realty Today reports that home sales in the state rose in 2012 for the first time in seven years:
A real estate research firm, Warren Group recently released reports of a survey conducted in the state, which revealed that around 24,300 single-family homes were sold in 2012 accounting for a 14 percent increase, when compared to 2011. Around 6,100 condominiums were sold, recording a 7 percent increase as well, reports Boston.com. The total sales also went up by 19 percent in the fourth quarter of 2012.
Moving up to Maine, MPBN notes that home sales jumped in the state in January:
Sales in Maine this January of existing single-family homes jumped more than 21 percent, compared with the same month a year ago. That’s according to the Maine Association of Realtors, which says the median sales price also rose more than 3 percent, to $162,000. The median price indicates that half the homes sold for more and half for less.
Massachusetts home sales also jumped in January, according to The MetroWest Daily News:
The Massachusetts Association of Realtors reported recently that January single-family home sales were up 13.7 percent from that time last year, marking the 19th straight month of year-over-year increases. “We can say this is definitely a trend,” said Kimberly Allard-Moccia, president of the Waltham-based association. “Buyers are continuing to take advantage of the market.” The surge is fueled in part by low interest rates and prices that, although rising, remain reasonable, she said.
In New Hampshire, the Concord Monitor reports that home sales are up but the median price was down in January:
New Hampshire home sales rose 21.2 percent in January from a year earlier, but sale prices fell 2.7 percent year-over-year, according to the New Hampshire Association of Realtors. There were 800 homes sold in the state last month, the group said yesterday, up from 660 in January 2012. Sales in Merrimack County were up 21.7 percent, to 84 from 69. But statewide median sale price dropped 2.7 percent, from $198,000 in January 2012 to $192,750 last month.
In New Jersey, CBS News reports on a comeback in real estate markets damaged by Hurricane Sandy:
Home values are up in many areas hit by Sandy according to a recent survey. In New Jersey, it’s up by almost 2 percent over pre-Sandy values — higher, actually, than in areas not impacted by the storm. Real estate firm Zillow conducted the study. “The lures of coastal living are actually more powerful than the periodic chance of having a natural disaster in your backyard,” said chief economist Stan Humphries.
Over in New York, the Big Apple’s metro area was the only one in the top 20 to show a decline in home prices in 2012, BizJournals.com reports:
Home prices in the New York metropolitan area decreased 0.5 percent in December from a year ago, the only city to have an on-year decline among the 20 major cities surveyed by Standard & Poor’s/Case-Schiller. Home prices in the New York area fell 0.4 percent in December from November, on the back of a 1.2 percent decline in November from October, according to the monthly survey.
In Pennsylvania, the Patriot News reports that Central Pennsylvania home sales and prices cooled during the winter:
Call it the winter doldrums. The dead of winter has appeared to deaden Central Pennsylvania home sales and slightly pull down selling prices – a seasonal pattern that often takes hold this time of year. But the one month of frosty figures is not necessarily the sign of softening market going forward. Overall, the number of housing units sold in January slipped 4.8 percent in the greater Harrisburg market, which includes Dauphin, Cumberland and Perry counties. The median selling price slid slightly, falling by 0.8 percent. The numbers were released today by the Greater Harrisburg Association of Realtors, based on the Central Penn Multi-List Inc.
In Rhode Island, The Herald News says home sales were up in 2012 and look good so far for 2013:
A wider picture shows that in 2012, overall home sales in Rhode Island were up nearly 20 percent over 2011, according to a year-end sales comparison from the Rhode Island Association of Realtors. The statewide numbers also show that overall home sales went up and are holding steady in the first few months of 2013. That, along with an increasing demand for housing and fewer homes going up for sale, suggest a balancing of Rhode Island’s real estate market, according to RIAR President Vicki Dolan.
And finally, in Vermont, The Times Argus reports that 2012 home sales were up over 2011:
Statewide, home sales were up 15 percent while the median price was $205,500, a decline of 1.7 percent from 2011. In Rutland County, 453 homes were sold last year compared to 407 homes the year before. The median sale price was $159,900 compared to $153,900 in 2011. Homes in the county were on the market longer last year, 191 days compared to 183 days in 2011.
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