Hammond Real Estate
Hammond Winter 2011 Market Report
By Mark Lippolt
Senior Vice President of Operations


Winter, 2011 Market Report
A Look Back...In many of the communities in Greater Boston the unit volume of sold properties was up slightly in 2011 as compared to the previous year. Volume increases were not dramatic, but with interest rates staying low, buyers were out in the market shopping for houses. Understandably, they were being very deliberate in selecting properties and making offers. Prices were flat or up marginally, and the number of homes for sale (inventory) stayed stable.  One exception to this was the condominium market in the City of Boston.  The lack of new large-scale development helped contribute to historically low levels of city condos for sale throughout 2011.
The Year Ahead...It is difficult to forecast out more than 90 days. Currently, certain factors support the belief that the 2012 market is due for a surge:low interest rates, pent-up buyer demand, and greater affordability. But offsetting these upward stimulators are forces that could be drags on the market like : more rental apartments coming on line, a meandering stock market, and the on-going financial crisis in Europe.
All in all, buyers today have returned to the notion that buying a home is first for shelter and secondarily for an investment. And we believe that there are people who have stayed on the sidelines who will most likely act to purchase this coming year. We think the result will be a continuation of a gradual increase in the number of homes being sold and a modest increase in prices. As was true in 2011, we expect the Greater Boston residential real estate market to outpace the national housing market.

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luxuryrealestate.com
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