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We all know that good news does not boost circulation. You wouldn't know it by reading the headlines in the papers, but the Central MA real estate market has some really good news!
In a year end comparison of the residential real estate market between Middlesex and Worcester Counties, the 2007 numbers were affected by about .5% over 2006. (All numbers were taken from MLS PIN statistics.)
Middlesex County saw an increase in the number of sales of 1%, and increase in days on market by 1.08%, the sales price was down by .5%, and the ratio between list and sale price remained the same at 96%.
Worcester County saw a 10% decrease in the number of sales, a 17% increase in days on market, and a rise in average sale price by .5% and the ratio between list price and sale price remained the same at 97%. So, fewer sales, but a rise in average sale price.
I was actually so surprised at what I found, that I went back to my numbers (which I had originally double checked) and triple checked them. Why was I so surprised? Well, if you read or listen to any news on any day of the week, the media has the sky falling down around us. Doom and gloom.
This just goes to show that unless you have solid numbers to go by, the media will have you walking around with your head in your hands, frantic about the condition of your biggest investment.
The buying environment now is quite amazing.....lowest interest rates in a year and still low housing prices. It's a great combination. These numbers are telling us that the media has it all wrong.....at least when it comes to reporting accurate news about the state of Central Massachusetts real estate.
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