Katie McBride | Hopkinton Real Estate, Holliston Real Estate, Ashland Real Estate


 

Homes Sold in the Past Month – Norfolk, MA

 

In the community of Norfolk, MA in the past month there have been 10 homes sold.  The average sale price of these homes was $573,195 and the homes were on the market an average of 82 days.  There have been 16 homes listed for sale during the past month Norfolk, MA.

 

We are here to serve all your real estate needs in the surrounding communities.  We welcome your business, and we promise to take exceptional care of you or any of your referrals.

 


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Data Says April is the Best Month to List Your Home for Sale | Simplifying The Market

The spring housing market is off to the races! The inventory of homes for sale is increasing, buyers are out in force, and interest rates have remained low, piquing the interest of buyers and sellers previously on the fence about making a move.

New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.

Listing your home in the first week of April contributes 14x more property views, 5% less competition from other home sellers, and results in the home being sold 6 days faster!

Below is a graph indicating the average score for each month of the year.

Data Says April is the Best Month to List Your Home for Sale | Simplifying The Market

It should come as no surprise that April and May dominate as the top months to sell. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, often leading to bidding wars.

However, there is one caveat worth mentioning. When broken down by metro, realtor.com noticed that while warmer climates share an overall trend, they have different top sales months. The best month to get the most exposure in Miami, FL, for instance, is August, while in Phoenix, AZ, June leads the charge.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, 41% of homes sold last month were on the market for less than 30 days! If you list now, you’ll have a really good chance to sell in April or May, setting yourself up for the most exposure!

Bottom Line

Let’s get together to discuss the market conditions in our area to get you the most exposure to the buyers ready and willing to make a move!


 

In the community of Framingham, MA in the past month there have been 36 homes sold.  The average sale price of these homes was $500,897 and the homes were on the market an average of 61 days.  There have been 41 homes listed for sale during the past month Framingham, MA.

 

We are here to serve all your real estate needs in the surrounding communities.  We welcome your business, and we promise to take exceptional care of you or any of your referrals.


Do 46 Million Millennials Know They Are Mortgage Ready? | Simplifying The Market


Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as part of attaining the American Dream.

Millennials have taken longer to obtain traditional milestones than the generations before them, such as getting married, having kids, and buying a home. However, that does not mean that they do not still aspire to achieve those things.

History shows that people tend to buy their first home around age 30. Nearly 5 million millennialswill turn 30 in the next two years. This will continue to fuel demand for housing.

This is also one of the many reasons why the millennial homeownership rate has continued to grow over the past few years. 48.4% of Americans between the ages of 30-34 now own a home.

There are over 46 million millennials (33% of the generation) who are considered “Mortgage Ready”,meaning they meet the qualifications to be approved for a mortgage today!

  • a FICO Score ≥ 620
  • a Back-End Debt to Income Ratio ≤ 25%
  • no Foreclosures or Bankruptcies in the last 7 years
  • no severe delinquencies in 1 year

Rob Chrane, CEO of Down Payment Resource, commented on the findings of the report,

“We now know there are millions of buyers with the income & credit necessary to qualify to buy a home. The biggest question is:

Do they know it? …Unfortunately, many renters don’t investigate homeownership simply because they don’t believe it’s an option.”

The good news is that more and more millennials are realizing that they can afford a home now. Even so, more can be done to increase awareness of low down payment programs to attract even more of this generation.

New data from realtor.com shows that in December, millennials accounted for 42% of all new home loans originated in the month. This is more than any other generation.

Bottom Line

If you are one of the many millennials who may be “Mortgage Ready” but are unsure what your next steps should be, let’s get together to help guide you on your path to homeownership!



 

In the community of Bellingham, MA in the past month there have been 6 homes sold.  The average sale price of these homes was $349,500 and the homes were on the market an average of 66 days.  There have been 12 homes listed for sale during the past month Bellingham, MA.
 
We are here to serve all your real estate needs in the surrounding communities.  We welcome your business, and we promise to take exceptional care of you or any of your referrals.




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