I was just looking over some market statistics for a client and found that there are 11 home currently on the  market in Beverly under $300,000. 4 of those homes already have accepted offers. So, is it a seller’s market? Well, you  have buyers starting to come out of the woodwork early this year because of the tax credit and only 7 homes in all of Beverly for them to look at!

Here is what the National Association of Realtors has to say about htis trend….

“Existing-home sales rose 5 percent in 2009, and December 2009 sales were 15 percent higher than December 2008. This suggests many areas around the country are showing glimpses of a balanced turnaround for sellers.Housing inventories have steadily declined – an indication home prices in many areas have stabilized and could soon return to normal appreciation patterns. Buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates. The first-time home buyer tax credit has also been a key motivator in moving sales along.

In addition, current homeowners who are in the market to buy a home can qualify for up to $6,500 if they have a contract in place by April 30, 2010 and close by June 30, 2010.”