LAER Realty Partners, the third largest real estate company in Massachusetts with 22 locations and more than 400 agents, is proud to release its monthly housing report, which examines trends throughout the state.
According to the report, average prices had gradually risen in every county examined year-over-year. They increased, however, at a slower pace that what was experienced in the spring and summer market.
Meanwhile, unit sales were down in virtually every county across the Commonwealth. July’s report demonstrates that some markets experienced double-digit percentage decreases in units sold year-over-year. Notably, in July of 2015 there were 1,519 units sold in Middlesex County single families, as compared to only 1,247 sold in July of 2016. This marked a steep decrease of almost 18% in the county.
Other counties showing double-digit unit sale decreases for July include Essex County single families (17.2%), Essex County condos (26.9%), Middlesex County condos (10.5%) Norfolk County single families (17.9%), Norfolk County condos (12.9%), Suffolk County condos (22.8%), Worcester County condos (13.5%), Bristol County single families (12.3%), Barnstable County single families (14.4%), Barnstable County condos (20.6%), and Martha's Vineyard home sales (37%).
“The sharp year-over-year decreases in units sold could mean that prices will start to slowly inch down for the fall and winter markets,” said Stacey Alcorn, co-owner of LAER Realty Partners. “Savvy sellers will have no choice but to reduce their prices.”
“It is interesting to see such a drop in both single family and condo sales from 2016 in comparison to 2015,” said Andrew Armata, co-owner of LAER Realty Partners. “We had anticipated prices to continue to rise through July but with a decrease in sales year-over-year, it will be interesting to see if the buzzing market will settle.”
About LAER Realty Partners
Created in 2014, LAER Realty Partners is the third largest real estate company in Massachusetts, with more than 400 agents in 22 locations throughout the state. LAER Realty Partners provides residential and commercial services, with specialized short sale and relocation divisions.
LAER Realty Partners is led by Owners Stacey Alcorn and Andrew Armata, who have more than 30 years of professional experience in the industry.
For more information about LAER Realty Partners, visit the LAER Realty Partners website at www.laerrealty.com, follow us on Facebook at www.facebook.com/LAERRealty, on Twitter at @LaerRealty and on Instagram at instagram.com/laerrealty.
