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Business & Tech

Market Continues to Warm

Seekonk's real estate market is showing signs of improvement.

The statistics for the month of April maybe an indication that the Seekonk real estate market is beginning to show signs of improvement. Now lets keep this in perspective. I’m not saying that our market is on a complete rebound as of yet. We still have our fair share of short sales and banked owned properties that will still hit the market causing an influx of properties that will remain active. This means that we still have more supply than we do demand. However, when you look at the data that I will explain below, you will see that Seekonk might just be on its way to a healthier real estate market.

According to MA MLS PIN, in the month of April, nine homes sold. The average listing price was $334,189 with the average selling price of $296,211. Eight homes went under agreement. Their average listing price was $278,400. That’s a total of seventeen homes in one month that are currently no longer on the market. A sure sign that buyers are taking advantage of the low interest rates and the variety of homes that are available.

Six years ago in April 2005, five homes sold with the average listing price of $274,900 and the average selling price $268,700. This was still at the height of the real estate boom. If you compare that to this past month, we almost doubled the amount of homes that were sold in the same month.

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Another sign of a strengthening market is the new construction that has been taking place in our town. Although cautious, builders are taking that next step to begin new subdivisions. Case in point, the Conservation Subdivision located on Newman Avenue and Brook Street is about to break grounds for fourteen new homes starting at $329,000.

If your not sure if this is the right time for you to buy or sell, speak to your local Realtor and get the facts on the Seekonk real estate market.

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