Massachusetts towns as diverse as Newburyport, Vineyard Haven, and Somerville are reporting mixed housing markets.

Newburyport

"The Newburyport area real estate market remains strong despite a less than stable economy, war and fluctuating interest rates," says Realtor Rick Zaniboni. "The sellers market of 2001 has softened a great deal. It is neither a strong buyer's or seller's market. As of September 19, 2003 there are 65 single family homes and 64 condos on the market in Newburyport. The median listing price of single family homes is $475,000 while the median listing price for condos is $319,000. Single family homes in Newburyport are staying on the market for 93 days on average with condos averaging 82 days."

Vineyard Haven

Says Realtor Fred Roven, "Also known as Tisbury, the town of Vineyard Haven is an active commercial center throughout the year. Home to delightful inns, large and small, it opens its welcoming arms to the influx of travelers arriving by ferry to the Island. Vineyard Haven's Main Street includes a variety of eateries and an array of shops catering to the tastes of any visitor. The Vineyard Haven harbor is an active and lovely sight and was once one of the most heavily sailed ports in the world. At the top of Main Street, one can enjoy the serene passage of sailboats from Owen Park, with its charming small beach, playground equipment for the tots, and the Liberty Pole landmark."

As far as the market goes, Roven says, "Sales in Vineyard Haven were up significantly in the second quarter of 2003. Sales of properties under $500,000 have been fast-paced, there is a strong demand for primary homes in this price range with demand exceeding supply, this segment of the market is a sellers market. Sales in this segment of the market have also been influenced by low interest rates. There are a significant number of harborfront properties on the market in Vineyard this quarter ranging in price from $4 million to $12 million. Properties between $1 million and $4 million are the slowest sales group."

Somerville

"Somerville has changed dramatically in the past 20 years. The extension of the Red Line subway to Porter and Davis Squares led to an influx of professionals who work in Boston as well as students. Interesting coffee houses, music venues, bookstores, and restaurants have migrated over the line from Cambridge. A strong artist community exists. There are many multi-family homes, quite a few single family homes, and an increasing number of condominiums."

Filene advises, "Realtors measure housing supply in months, with a six month inventory considered normal. The national backlog reached 9.2 months in the 1990 recession. In Somerville in September 2003 we have a 5.1 month supply if properties were to sell at the same average rate as during the past year. So we currently have a balanced market. David Lereah, chief economist with the National Association of Realtors, forecasts that home prices should rise nationally in the range of 4 to 4.5 percent in 2004."

Published: September 23, 2003

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.