Home sales increased again over August of last year. Inventory decreases and ongoing buyer demand continue to push median prices up, nearing record highs for August. Condominium sales also closed slightly higher with median prices up from 2015.
Read more in the full August 2016 Closed Sales Release.
Highlights from the release:
- August single-family home sales went up 4.0% over last year. (6,254 sales in 2016 from 6,015 sales in August 2015)
- August single-family median prices went up 2.7% year-over-year (to $375,000 in 2016 from $365,000 in August 2015)
- August condo sales went up 0.8% and median prices went up 2.8% (to $345,000)
- Inventory in August went down -32.2% to 16,994 and condominiums available down -30.1% to 4,168
- SF listings added to the market in August went down -6.5% over last year. (6,417 from 6,865 in 2015)
- Condo listings added to the market went down -2.8% over last year. (2,129 from 2,191 in 2015)
Buyers were not deterred by the hottest August on record in pushing up the number of accepted offers that were made as pending home sales rose again over 24 percent from last year. Condominium pending sales were also up 17 percent as prices for both property types continue to go up. The strong market was reflected in a high Realtor® Market Confidence Index, while Price Confidence was essentially flat.
August Pending Sales:
|Single Family||August 2016||August 2015||% Change|
- Pending sales have been up 41 of last 42 months
|Condominium||August 2016||August 2015||% Change|
- Pending sales have been up for 12 of last 13 months
REALTOR® Market and Price Confidence Indexes:
|Confidence Index||August 2016||August 2015||% Change|
- The Realtor® Market Confidence Index was up for the 18th straight month
- The Realtor® Price Confidence Index was down or essentially flat for the eighth time in 13 months
- Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition
Read the full August 2016 Future Indicators Report release.
|Closed Sales||Percent Increase
||Median Sales Price Growth||Median Price||Percent Increase|
|1. Sherborn||+140.0%||1. Great Barrington||$337,463||+ 84.2%|
|2. Lunenburg||+125.0%||2. Dighton||$386,150||+ 80.3%|
|3. Orleans||+100.0%||3. Groton||$556,950||+ 59.4%|
|4. Palmer, Groton||+88.9%||4. Swansea||$323,950||+ 55.4%|
|5. Everett||+77.8%||5. Westwood||$985,000||+ 53.0%|
|6. Salisbury, Sterling||+71.4%||6. Milton||$766,200||+ 50.2%|
|7. Uxbridge, Middleton||+66.7%||7. Mansfield||$510,000||+ 48.3%|
|8. Dudley||+62.5%||8. Dover||$1,050,000||+ 41.4%|
|9. Spencer||+57.1%||9. Halifax||$407,500||+ 40.6%|
|10. Oxford||+53.8%||10. Palmer||$247,000||+ 36.3%|
*A minimum of ten homes must have been sold in each town during July 2016 to make this list.
All data used in the rankings is compiled from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc.
Home sales decreased for the first time in 14 months, after a year of several record highs. Prices pushed up again for the fifth month in a row as inventory continues to slide. Condominium sales also closed lower with median prices up from 2015.
Read more in the full July 2016 Closed Sales Release.
Highlights from the release:
- July single-family home sales went down -14.0% over last year. (5,799 sales in 2016 from 6,745 sales in July 2015)
- July single-family median prices went up 3.5% year-over-year (to $376,750 in 2016 from $364,000 in July 2015)
- July condo sales went down -18.1% and median prices went up 5.9% (to $360,000)
- Inventory in July went down -29.2% to 17,650 and condominiums available down -26.9% to 4,435
- SF listings added to the market in July went down -14.9% over last year. (6,387 from 7,507 in 2015)
- Condo listings added to the market went down -4.0% over last year. (2,307 from 2,403 in 2015)