According to statistics just released by Realty Trac March 2010 foreclosure rates are 16% higher than last March. The report also says March has the highest foreclosure rate since they began keeping statistics on foreclosures.
According to the Report, we are on track to see more that one million foreclosures this year. That is on top of the foreclosures already being held by the banks.
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Thursday, April 15, 2010
Thursday, April 8, 2010
The Quincy Real Estate Market has made some gains over the same period in 2009.
The Quincy Single Family Market:
During the first quarter of 2009 there were 60 single family homes sold compared to 75 in the first quarter of 2010.
The average listing price for Quincy single family homes in the first quarter of 2009 was $330,082 with a selling price of $315,028 and average days on the market was 88.78.
In contrast the average listing price during the first quarter of 2010 was $344,603 with an average sales price of $330,893. The average days on the market was almost unchanged at 89.88.
The Quincy Condo Market:
During the first quarter of 2009 there were 47 condos sold as compred to 55 in the first quarter of 2010.
The average listing price in the first quarter of 2009 was $235,904 with an average selling price of $220,896 and the average days on the market were 136.77. The average price per square foot was $233.
For the first quarter of 2010 the average listing price was $278,944 with an average selling price of $268,845. The average days on the market was 140.31 and the average price per square foot rose to $268.
The Quincy Multi Unit Market:
For the first quarter of 2009 there were 13 sold multi unit buildings in Quincy as compared to 12 in the first quarter of 2010.
The average listing price was $387,385 and the average sales price was $367,385 with an average days on the market of 81.92.
For 2010, the average listing price jumped to $440,533 and the average sales priced rose to $415,823. The average days on the market fell slightly to 78.67.
Summary:
Based on these statistics, the Quincy Real Estate Market is rebounded slowly but surely. However, keep in mind that the $8,000 first time buyer tax credit was not in place from the start last year. Now that the credit is ending on April 30, 2010 it will be interesting to see if the upward trend continues into the spring market.
Typically Spring is the busiest market and interest rates are still at historically low levels. Rate have inched up recently as the FED stopped by treasuries at the end of March. Most of those I speak with in the Mortgage Business are not expecting rates to climb too quickly.
Thes figures are from MLSPIN Multiple Listing Service.
The Quincy Single Family Market:
During the first quarter of 2009 there were 60 single family homes sold compared to 75 in the first quarter of 2010.
The average listing price for Quincy single family homes in the first quarter of 2009 was $330,082 with a selling price of $315,028 and average days on the market was 88.78.
In contrast the average listing price during the first quarter of 2010 was $344,603 with an average sales price of $330,893. The average days on the market was almost unchanged at 89.88.
The Quincy Condo Market:
During the first quarter of 2009 there were 47 condos sold as compred to 55 in the first quarter of 2010.
The average listing price in the first quarter of 2009 was $235,904 with an average selling price of $220,896 and the average days on the market were 136.77. The average price per square foot was $233.
For the first quarter of 2010 the average listing price was $278,944 with an average selling price of $268,845. The average days on the market was 140.31 and the average price per square foot rose to $268.
The Quincy Multi Unit Market:
For the first quarter of 2009 there were 13 sold multi unit buildings in Quincy as compared to 12 in the first quarter of 2010.
The average listing price was $387,385 and the average sales price was $367,385 with an average days on the market of 81.92.
For 2010, the average listing price jumped to $440,533 and the average sales priced rose to $415,823. The average days on the market fell slightly to 78.67.
Summary:
Based on these statistics, the Quincy Real Estate Market is rebounded slowly but surely. However, keep in mind that the $8,000 first time buyer tax credit was not in place from the start last year. Now that the credit is ending on April 30, 2010 it will be interesting to see if the upward trend continues into the spring market.
Typically Spring is the busiest market and interest rates are still at historically low levels. Rate have inched up recently as the FED stopped by treasuries at the end of March. Most of those I speak with in the Mortgage Business are not expecting rates to climb too quickly.
Thes figures are from MLSPIN Multiple Listing Service.
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