When you live in New England, snow and cold are part of the deal. While this winter seems to have had a little more cold and a little more snow than usual, it didn’t stop buyers from making offers that sellers accepted in February. In fact, it was the most active February for single-family pending sales since February 2004. Each month median prices go up, is another month additional homeowners who were under water have the chance to put their homes on the market.
Here are the highlights:
- Single-family pending home sales were up 20.4% compared to February 2013
- Single-family month-to-month pending home sales were up 13.8% from January 2013
- Single-family median price up 7.5% from February 2013 (to $295,600)
- Condo pending home sales were up 17% compared to February 2013
- Condo pending month-to-month home sales were up 7.9% from January 2014
- Condo median price up 8.9% compared to February 2013 (to $282,500)
MAR recently hosted several REALTORS® from the Mitsui Company, one of the largest real estate companies in Japan. They attended an informational session to discuss market trends in Massachusetts; popular property types; and broker-agent relationships. International Committee members at the meeting were: Chairman David Noyes, David Kaloupek, Sory deOliveira and Susan McDonough. From Asian Real Estate Association of America (AREAA), Mass. REALTORS® Jessica Ye, Misato Hayashi and Nao White also attended.
Here are the articles and posts that resulted from the release of our January 2014 closed sales report that we issued on Tuesday, Feb. 25. We’ll continue to update this post as more things come in.
Thursday, February 27, 2014
MA Single Family Home Sales in January Rise to Highest Since 2007
Wednesday, February 26, 2014
Business Digest for Feb. 26, 2014
Milford Daily News
Tuesday, February 25, 2014
Low inventory of homes hurting market in Mass.
Mass condo prices shatter record
BostonRealEstateNow Blog (Boston.com)
Mass. homes sales and prices up in January
The Island Packet (via AP)
Mass. home sales for January best since ’07
Worcester Business Journal
The market momentum of 2013 has continued through the new year and into January as home sales and prices were up again to start the year. While inventory continues to be down, the return of equity is giving homeowners a better opportunity to put their homes on the market – if that’s what they want to do. Unfortunately, inventory can’t come back if sellers don’t list their homes. (see graphs below – click on them to enlarge)
Link to January 2014 news release
Highlights from the release:
- January single-family home sales – Up 0.7% over last year.
- January Single-family median prices were UP 14.3% to $320,000. Sixteen straight months of increases.
- January condo sales up 4.1% and median prices UP 20.2% ($300,500)
- Inventory in January Down 20.4% to 15,246 and Condominium available Down 27.0% to 4,232
- SF listings added to the market in January Down 11.1% over last year. (4,167 from 4.685 in 2013)
- Condo listings added to the market Down 11.4% over last year. (1,700 from 1,919 in 2013)