The Beverly Massachusetts real estate activity reports that home and condo sales are increasing while property values continue to decline. 2010 average sales prices year to date and second quarter closings both report a drop inaverage sales prices in comparison to the 2009 activity.

Of particular interest are the April through June closings which were impacted by the increased activity in the first time home buyer sector.The buyers sought to take advantage of the $8000 tax credit offered in the stimulus package. The 2010 year to dateselling prices (the first six months) are higher than Q2 sales which means first quarter average selling prices were substantially higher. Both single family homes and condominium statistics report the same type of activity.

It is evident that we will be in a buyer’s market for the foreseeable future.

Single Family Homes

In 2009, the average selling prices increased 4% over 2008 with prices rising from $411,690 to $428,004. In the second quarter of 2010 there were 74 homes sold at an average sales price of $376,632. A comparison to 2009 Q2 shows 63 homes selling at an average price of $506,698. There were 114 single family home transactions in the first six months of 2010 with an average sales price of $428,333. During the first six months of 2009 there were 82 homes sold at an average price of $529,363.

The Beverly real estate activity will now return to a market effected by the normal influences of consumer confidence and interest rates. Go to Beverly MA homes for sale to view all current property listings for sale.

Condominiums

The Beverly, MA condominium market 2010 second quarter and YTD activity reports a turnaround in transactions as compared to 2009. In Q2, transactions improved from 18 to 27. There were 42 condos sold in 2010 year to date which is a substantial increase from 28 in 2009l For the 2009 annual activity, there were 70 condos sold as compared to 111 in 2008. This represents a 37% decrease in the number of condos sold. 2010 Transactions increased due to the affordability and incentives for renters to take advantage of market conditions.

However, the downside of the increased activity was the drop in values. Condo sales fell below $200,000 in the second quarter and the YTD stats report an average at $207,096. These values are substantially lower than the 2009 values of $228,549.

The average days on market improved dramatically to 82 days for the 2010 Q2 timeframe. In comparison, the 2009 days on market changed -7 % from 138 to 129.

Information for the Beverly MA update was obtained from the Massachusetts MLS (MLSPin) and is not guaranteed to be accurate. Data was analyzed by Virtual Homes Real Estate.

Financial pundits are telling us on a daily basis something that is evident just by looking at all of the people looking for work in your neighborhood, the economy is sliding off a cliff. Even as the safest investments prove to be not so safe, there are some ways to improve your bottom line.

Businesses report that earnings are down and morale is low. Consumer confidence is low as well. Because the credit market is tight, businesses are not borrowing as much to invest, expand, or fund new projects. This all affects the bottom line. With that said, times are not good right now. However, it is hard to call an actual bottom on the market, so we don’t know for sure if it will go lower.

How can I increase my income, so I can invest in the stock market?

As an investor you are taking a much greater risk, saving is a stage on the road to investing. You cannot be an investor without being a saver but you can be a saver without being an investor. Investing is what you do with the savings you have created if you are looking to generate a return on your money that is greater than what is already available to you through your savings instruments.

Are you tired of losing money in the stock market?

Millions of people have lost billions and trillions of dollars and are watching their hard earned money taxi down the runway. But putting your money under your mattress is still not the best investment in these volatile times.

The economy the stock market and the dollar are on a steady decline. It’s not a surprise that many people are scared to invest their money in the stock market right now with the wild volatility it has been showing over the past year.

With the current Obama administration, one way to start investing now is to start investing in green technology. Now may be the time to concentrate rather than diversify your portfolio. Solar cell and wind power companies would be some possibilities. Although we are facing the worst economy since the Great Depression, it is clear that in the next five years you will see more money being invested in green technology which will result in positive results for companies in this industry.