Savvy Buyers know this is an excellent time to buy. Would you have thought that interest rates would be below 4% for a 30 year fixed rate to start off 2012? Six months ago, the rates were floating between 4.75-5.25%, historical lows, but now they are even better! If you haven’t refinanced in the last 2 years, you may want to think about it now.
It’s interesting to note that selling prices of homes for sale in Acton remained relatively flat between 2010 and 2011.
Could this be an indicator of house prices hitting the bottom and on their way up?
Take a look at Boxborough too. Home sale prices in Boxborough increased 10.1% from 2010 versus 2011 and sold faster, average days on market 127 days, and the number of homes sold were more than in 2010. This is a healthy sign in Boxborough.
The number of homes sold in Bedford increased from 2010 to 2011 even though homes stayed on the market longer, nearly 100 days. Bedford house prices fell 8.7%, making Bedford a very good value in 2011. Hopefully this will continue into 2012.
Homes for sale in Concord had a slight decrease in selling price, yet the number of homes sold increased in 2011. The data shows that Buyers are purchasing homes, especially if they feel the value is good.
The number of homes sold in Littleton, Maynard and Stow was also up from 2010, again showing that there were more buyers purchasing homes in 2011 than 2010. More buyers means increased competition for the inventory of homes on the market, which leads to increased demand, which can drive home prices up.
Is it still a good time to buy? You bet it is!
Home prices are still LOW and interest rates are LOW. Low- Low equals Win-Win for Buyers.
It’s still an excellent time to buy a home, as long as you are planning on living in your home for 3 or more years. Real estate has traditionally been a wise investment, we all need a place to live, why rent when you can own and build equity with your hard earned money.
Feel free to contact me for more information about homes for sale, the value of your home, or the best home improvements to increase your homes value.