- NO IMPACT? I heard a news report on the Registry of Deeds February statistics where they noted that February sales seemed not to have been impacted by the bad weather. Given that those properties were probably put under agreement in mid to late December and the bad weather didn’t start until January 27th, you wouldn’t expect a weather related impact on February sales. Let’s see what March and April sales look like!
- HOPE FOR QUICK RECOVERY! An article by Colleen Sullivan in Banker & Tradesman says that the data suggests winter’s long term impact may be limited. The busiest months for home sales are June, July and August, with an average of just over 30% of all home sales closing in those months. The second snowiest winter in Boston with 107.6 inches of snow was 1995-1996. The number of sales closed in the following peak months was 31.6%. The third snowiest winter was 1994-1995 with 96.3 inches of snow. The number of sales closed in the following peak months was 32.6%. Here’s hoping 2015, the snowiest winter, follows previous patterns.
- PENT UP DEMAND: Along with the reluctant spring, we’ve see a delay in listings coming on the market. We have more daylight now, soon we should feel a hint of warmer weather and the market should explode. Hopefully, we’ll see more affordable properties as well. As of March 2nd:
Bourne has 96 single family homes listed, 9 under $200,000 and 9 above $1,000,000
Falmouth has 274 single family homes listed, 5 under $200,000 and 53 over $1,000,000
Mashpee has 182 single family homes listed, 4 under $200,000 and 59 over $1,000,000