Analysis prepared for The Boston Globe by the Research Group of Norwell-based Housesavvy.com.
|Area||Data||July 2008||January 2009||July 2009|
|Supply (months)||6.07||7.75||4.63 mo.|
Average sale price for homes placed under agreement has been fluctuating in the three towns. Year-to-year prices dropped 22% in Hingham and Scituate in July, and nearly 43% in Norwell.
Unsold listings are determined by dividing the number of unsold listings at the end of the month by the number of sales that month. Real estate professionals consider a 5- to 6-month supply a balanced market. All three towns are currently at or slightly below that benchmark, indicating that these communities can now be described as a moderate seller's market.
Conclusion. The Greater Boston market appears to have stabilized and entered a period of growth. Plymouth County as a whole is still a buyer's market due to excess inventory, but is approaching a balanced market. Listings in Scituate, Hingham, and Norwell are showing year-to-year decreases, a sign that consumer confidence continues to return in these towns.