Posted: August 15, 2016 by Edward Sanford
The 2016 Nantucket real estate market unfolded quickly in January and has stayed the course throughout the year. Since 2012 the sales trend for house transactions has consistently alternated above and below the moving trend line. That trend is intact, as house sales have bounced back significantly from 2015 with a 50% increase in closings as of June 30th. The 197 sales are the best mid-year total since the great recession in 2009. Read more
Important real estate questions can often be asked quickly —"What's the right sale price?" or "What's the right list price?"— however, the answers may take a while. A question may be simple to ask, but the answer is usually complex because real estate is complicated.
In markets where offers can be close, it’s important to take all other factors into consideration, like the terms, the mortgage, the pre-approval letter, and any appeal from buyers.
"NAR is predicting existing-home sales to reach 6 million in 2017, higher than its 5.8 million forecast for this year. But other entities are even more bullish. MBA is predicting home sales to eclipse 6.5 million next year, while Fannie Mae and Freddie Mac are both predicting 6.2 million."
If you're looking for a house that's not exactly turnkey, you're not alone. Call it the HGTV effect. Is anyone else OBSESSED with House Hunters Renovation?!
Posted: September 7, 2016 by Edward Sanford
Little has changed with August real estate sales activity. The lower number of July house closings look to be a bit of an aberration as closings for this August were 32% higher than August 2015. There were 33 sales versus 25 for last August. Year to date house sales are up 32%. This increase is almost all below $4,000,000. For 2016, over $4,000,000, there has been just one more transaction than as of August 31. 2015. This may change as, of the 78 houses reported under contract, seventeen are listed in excess of $4,000,000. That compares to only seven last year out of 96 reported contracts as of last August 31.
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