Scituate, MA - Current Conditions AND Making the BEST List Again!

The current market conditions in Scituate are fair. The final numbers for the 4th quarter were disappointing (compared to '07), and the current sales for this 1st quarter of '09 are lower than the same period in '08 (with a few weeks still to go). Actual sales numbers are showing that values have decreased slightly (3-4%), but still no where near the national average.

While this may seem dismal, we are seeing more and more buyers jumping back into the market - of course, due to the low interest rates. The current inventory of single-family homes for sale is still pretty low. Of the 120 homes listed in MLS, 7 are actually condos or duplexes and 5 are technically "off the market" (accepted offer status). I personally know of 2 others that have not been flagged, but are also in accepted offer status. The good news is that the inventory of homes that have been languishing are finally moving and new listings coming on the market are selling faster IF they are priced correctly.

The sellers I am currently speaking to about selling their homes are treading very carefully - as well they should. It's a matter of doing your homework and paying close attention to the numbers. If my CMA (Comprehensive Market Analysis) reveals that you could sell your home for X amount of dollars, but you need Y to reach your goals, then DON'T sell. If you must sell for various reasons, let's list it at a price that makes sense AND that a lender will approve. The HOT price range right now is 300 - 450... Since the new year, 32 single family homes have sold or are currently in escrow. Thirteen of those homes were on the market for less than 100 days. Five were over 300 days. The "average" days on market we have been seeing is 150....

And from the "this just in" department.... Scituate has once again made Boston Magazine's Best list! We were listed last year under the Best Places To Live. This year, in keeping with the spirit of the current economy, the list is appropriately altered. Scituate is one of the towns under the "Top Burgs for Bargain Hunters". It seems Hingham has also made the list again- as a "Recession Proof" town. While I'm not sure that I agree with their numbers, the magazine also breaks down ALL of the towns in Massachusetts to see where we all stand with regard to home values.

The snow is FINALLY melting! C'mon Spring!