Chelmsford Bucking State Real Estate Trends

The State of Massachusetts has begun the New Year with mixed news when it comes to real estate statistics, although it appears Chelmsford might be an exception.

According to the Warren Group, publisher of the Banker and Tradesman, a total of 2,246 homes sold statewide in February, a 5 percent decrease from 2,366 sales in February 2012, marking first month since December 2011 that home sales posted a decrease.

"Two factors caused this modest drop in February: low inventory and a comparison with a strong previous year of sales," said Timothy M. Warren Jr., CEO of The Warren Group. "Even so, I'm still hopeful for a strong spring market. As more sellers list their homes in the spring, activity will pick back up."

However, Chelmsford went in the exact opposite direction, with the 16 home sales and 10 condo sales 5 and 1 more than Februrary 2012, respectively.

Chelmsford also had limited foreclosure activity to start off the year, with only two foreclosure petitions in the month of January compared to seven in January of last year. There, Westford mirrored the statewide trend, which dropped almost 30 percent between January 2012 and 2013.

"We're finally seeing a clear picture of the trend in foreclosures - and it is good news," said Warren. "The housing market has greatly improved - a sign that the economy is gaining ground and foreclosures will continue to subside."