Pinnacle Residential Properties Announces First Quarter Housing Statistics For Wellesley Real Estate, Weston Real Estate, Needham Real Estate and Dover Real Estate

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Pinnacle Residential Properties offers Free First Quarter Housing Statistics Report

Wellesley Real Estate

Readers are invited to visit Pinnacle's website to obtain a free copy of the Needham Real Estate, Wellesley Real Estate, Dover Real Estate and Weston Real Estate reports.

The first quarter 2012 market statistics are now available from Pinnacle Residential Properties for the towns of Wellesley, Weston, Needham and Dover.

Vincent Spoto announced that due to the economic situation market reports are more valuable to buyers and sellers as they make their decisions when to buy and sell real estate. Spoto said,” National and even State wide statistics do not tell the story as to what is happening in local communities. Each community is different and the depth of economic distress and speed of recovery varies widely. How is the market? Have we hit bottom yet? Are questions Realtors hear all of the time. None of us have a crystal ball, but we do get a sense about our local markets by market behavior and more important recent results”.

The report indicates that the towns Wellesley, Weston, Needham and Dover all have year over year improvements in sales. Dover quarterly sales were the highest in the quarter even higher than Q1 Dover sales in the banner year of 2007. Even more impressive is that homes Under Agreement (which reflect more recent activity) are higher this first quarter with an increase of nearly 60% over 2007.

Wellesley and Weston under agreement statistics show significant improvement over the past two years. This is supported by activity seen in the market with high attendance at open houses, higher internet traffic and, in some cases, a return to competitive bidding.

The report shows that inventories in these towns are moderating. With improved sales the absorption rates are well under 6 months for these towns, an indication of a better balance between listings and property sales. Although these towns are contiguous Spoto said: “ to be certain about market conditions one must not only analyze individual town statistics but even what is happening in each price band.”

Readers are invited to visit Pinnacle's website to obtain a free copy of the Needham Real Estate, Wellesley Real Estate, Dover Real Estate and Weston Real Estate reports.

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Vincent Spoto
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