EagleTribune.com, North Andover, MA

Merrimack Valley

January 1, 2014

Sales dip, prices rise in Merrimack Valley

(Continued)

John Walsh, of JW Real Estate, in Andover said he has seen in a decline in activity in sales himself.

“I’ve seen a lack of activity for about two months,” he said.

However, he is not too worried about it.

“It’s a cyclical thing. We usually see it annually around this time of year. With the holidays and the cold weather, it’s typical to have a drop off,” he said.

Condominium sales in Massachusetts increased in November, rising 7 percent from a year earlier. A total of 1,609 condos sold last month, up from 1,503 in November 2012. Year-to-date condo sales are up almost 6 percent, increasing to 18,683 from 17,655 a year earlier.

The fewest homes were sold in Lawrence last month, only 20. There were 24 homes sold in North Andover, 27 in Andover and 28 in Haverhill. Methuen has the most homes sold with 39.

Walsh says interests rates have gone up as well, which might be why people are not buying.

“Around the time when we were coming out of the recession, interest rates were around 3.5 percent. Now they are 4.5 percent. I think that has people worried,” he said.

Walsh has hopes that the market will pick up again.

“If interests rates stay where or especially if they drop a little, I think we will see more people buying again eventually,” he said.

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