I’m often asked “how’s the market?’, meaning how’s the real estate market. I get to say that for me fortunately, the market has been good this spring and summer. I’ve had the pleasure of working with quite a few buyers and sellers and have been able to close a nice number of transactions. That’s not to say that the market is “coming back”, as some keep hoping for. If anything, I’d say that we are bumping around on a bottom that will last for quite some time to come. And the shape of that future is not just controlled by how the USA handles its own financial problems, but also by goings on in Europe, with many of those countries on even shakier ground than we are. To a degree, we’re all in this together, bound by the realities of international finance.
In any case, that image of bumping on the bottom can be illustrated by a couple of graphs from our MLS’s new statistical tool, the Statistical Analysis Module (SAM). Below is a graph showing the closed transactions over the last several years in our overall MLS and the average $/square foot of the sold prices over that time. Take a look at these, and you’ll see what I mean.