By Robert Doherty
THE ERICKSON TRIBUNE
It officially arrived this year on March 20, and for those who sell, spring is definitely in the air. “No matter what’s happening in the real estate market in general, the ‘spring market’ always seems to be strong,” says Shawn Cayer, the principal broker at Windhill Realty, LLC, in Ipswich. “March and April are still considered the ‘kick-off months.’ By May, this market will be in full swing.”
And how does this spring’s market look for home sellers? Very good, the professionals agree. Home prices are expected to stay strong—but won’t be rising at the feverish pace of a year ago.
‘A Bit of a Breather’
Homeowners can be very happy with their gains up to 2005, but should probably have more modest expectations this year. David Lereah, chief economist for the National Association of Realtors, predicted “a bit of a breather in 2005,” and experts expect the same for 2006.
Citing his figures, Cayer says the average single family home in Ipswich Mass., is about $419,000 and in neighboring Topsfield, the average single family home is at about $487,000.
“Property values seem to be leveling-off and holding strong. Homeowners don’t have to worry as much about their property values increasing a tremendous amount right after they sell them. It’s really the perfect time to sell a house.”
Time to Sell?
Some longtime homeowners who’ve seen their houses shoot up in value are asking whether the time to sell their homes is now.
Certainly, home prices have topped-off after the explosive growth the market saw in the last few years. And, while few expect them to fall on the North Shore, many experts predict slower growth. Where could this slowdown lead? The farther out one looks, the harder it is to predict with certainty.