The Start of the Year Shows Increased Home Sales

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A recent report issued by the National Association of Realtors (NAR) has indicated that home sales at the beginning of the year were relatively steady overall in most regions with only declines seen in the West. The total existing home sales of townhomes, single-families, condos and coops had dipped by just 1% overall as a result of the slipping sales in the West. However, total sales are significantly up by 9.6% over this time last year. It is good to see these positive statistics for the start of the year where we can be hopeful for what is to come once we get past the current crisis.

Lawrence Yun, NAR’s chief economist, finds the outlook for 2020 home sales promising despite the drop in January. “Existing-home sales are off to a strong start at 5.46 million.” Yun said. “The trend line for housing starts is increasing and showing steady improvement, which should ultimately lead to more home sales.”

Home prices

Home prices have not stopped their steady incline with January marking the 95th straight month of increases. The median home price has continued to show gains in all regions across the country and is up by 6.8% over January of 2019.

Inventory Levels

The housing inventory is at its lowest point in over 20 years since the year 1999. The amount of available inventory is down by 10.7% from one year ago at this time with unsold inventory only being at a 3.1 month supply at the current pace.

Days on Market

Properties were on the market for an average of 43 days during January. This figure is up from 41 days in December, but down from the 49 days seen in January of last year. Forty two percent of homes that had sold in January were on the market for less than one month.

Mortgage Rates

The average mortgage rates were lower than last year at the same time. The average commitment rate for a 30 year loan per Freddie Mac was 3.62% in January. Last year this figure was 4.46% at the same time.

Beth Dickerson

Boston, MA

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(617) 510-8565
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Boston, MA 02116

About The Author

One of Boston’s most reputable real estate brokers, Beth Dickerson has achieved more than $2 billion in sales and thousands of successful real estate transactions over her nearly thirty-year tenure. Beth has received national acclaim from the real estate industry and represents some of the most prestigious residents and properties across Massachusetts. Her enduring record as a top producer comes from the intuitive gift of sensing her clients’ needs. She has built a business that is referral-based at its core—a testament to her relationship-driven approach and penchant for exceeding expectations. It is this nuanced expertise that Beth leverages to guide many of her clients-turned-friends through some of the greatest milestones of their lives.

Beth was the proprietor of her own real estate company before joining the residential division of R. M. Bradley in 1993, where she was a top producer for more than a decade. In 2003, she founded her own boutique real estate firm, Dickerson Real Estate, before merging with Gibson Sotheby’s International Realty in 2007. Today, Beth attributes her success to her comprehensive marketing and advertising strategies, exclusive contact network, and unparalleled insight into neighborhoods like Back Bay, Beacon Hill, the South End and Waterfront. With an understanding that no two clients are alike, she works with clients in all phases of life—from first-time buyers to luxury developers, seasoned sellers and beyond. Beth offers clients the resources to aggressively market their property locally, nationally and globally, and her attention to detail, drive and enthusiasm are unmatched.

Beth has appeared in prestigious media outlets including The Wall Street Journal, Mansion Global, The Boston Globe, and Boston magazine, and was prominently featured as Greater Boston’s real estate expert on WCVB Chronicle in 2020. She has had the honor of serving as President of the Downtown Council of the Greater Boston Real Estate Board. For over ten years, she has been a Co-Chair and Committee Member for the Massachusetts General Pediatric Hospital for Children’s Storybook Ball. She serves as a Board Member of the Community Music Center of Boston and a member for the Perkins School for the Blind, Emerald Necklace Park Conservancy, Justine Liff Luncheon, Youth Villages and the Boys & Girls Club of Boston, among dozens of other organizations throughout the Boston area.

A long-time resident of Boston’s Back Bay, Beth was an active member of the community as she raised her two children: she served as treasurer of the Clarendon Street Playground and was an avid supporter of the Hill House Community Center.