Have Faith, the Bristol County Real Estate Market is Stable

No matter what form of media you are exposed to, there seems to be doom and gloom in the housing market. Nationally, things are a mess and I am not here to say otherwise. However, I would like to provide a glimmer of hope for our local market. You can see from the charts I have provided (taken from raveis.com) that things aren't as bad as they seem.

In 2010, the average sale price for a single-family home in Bristol County (including all 3 towns) was $373,256. The average price in 2011 was $372,580. The average units sold in the entire county in 2010 was 184. In 2011, 172 units have been sold so far.

What does this mean? Things are fairly stable.

Okay, we know that 2010 was not the best year for real estate in any world or strech of the imagination, so saying we are stable doesn't sound wonderful. It is, however, just a little reminder that things are not crashing down in Bristol County. Again, this isn't the most amazing thing that anyone could point out (i.e. this isn't Publishers Clearing House coming to your home to tell you that you have won a million dollars), but I think we need to be reminded of our local markets.

The negative stories about the national real estate market may scare you into never taking the plunge to purchase that first/dream home or to put your house on the market to downsize/upsize.

I am sure you are tired of hearing this is the best time to buy, but if you have the means, it is a good idea. I just worked with a client who locked in a 4.25% rate on their mortgage for 30 years. Now that is something to write about!