Buyer Demand Keeps Pending Sales Strong in January

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Ongoing buyer demand pushed pending home sales up in January more than 10 percent compared to the same time last year. Realtors® confidence both in the market and in home prices was positive in January.

January Pending Sales:

Single Family January 2017 January 2016 % Change
Sales 3,600 3,254 10.6%
Median Price $354,000 $329,700 7.4%
  • Pending sales have been up 46 of the last 47 months
Condominium January 2017 January 2016 % Change
Sales 1,524 1,278 19.2%
Median Price $330,000 $310,000 6.5%
  • Pending sales have been up 16 of the last 17 months

Realtor® Market and Price Confidence Indexes:

Confidence Index January 2017 January 2016 %Change
Market 69.63 66.98 4%
Price 75.19 73.32 2%
  • The Realtor® Market Confidence Index was up for the 10th straight month
  • 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 January 2017 Future Indicators Report.

These 10 MA towns experienced the highest increases in sales and price in December

Top-ten_blog_purpleWorcester County experienced a boom in median price increases over last year in December, with two towns topping the list. Closed home sales increases were spread across the state.

Closed Sales Percent Increase
1. Wellfleet + 175.0%
2. Ashland, Mansfield, Merrimac + 150.0%
3. Westfield + 140.0%
4. Kingston + 120.0%
5. Rutland + 116.7%
6. South Hadley + 111.1%
7. Longmeadow + 109.1%
8. Marshfield + 94.4%
9. Wilmington + 94.1%
10. Seekonk + 92.3%

 

Median Sales Price Growth Median Price Percent Increase
1. Douglas $338,000 + 64.9%
2. Belchertown $307,000 + 43.6%
3. Spencer $215,000 + 38.7%
4. Sudbury $774,500 + 36.3%
5. Bourne $375,000 + 35.1%
6. Gardner $190,000 + 34.2%
7. Westwood $755,500 + 33.7%
8. Tyngsborough $399,900 + 32.5%
9. Norwell $840,000 + 30.5%
10. Dracut $365,000 + 29.8%

*A minimum of ten homes must have been sold in each town during December 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.

Massachusetts Home Sales Flat in December After a Strong Year

Front Porch Of Resedential Home With Autumn Decorations

December closed out with single-family home sales essentially at the same pace as last year. Eleven of the 12 months of the year saw an increase in home sales over 2015. Median prices were also up for 10 straight months as home values reached new highs. Condominium sales were down in December, after a year of mostly increases. Overall, 2016 was a positive year for home sales in Massachusetts as both year-end single-family and condominium sales and median prices were up over 2015.

Read more in the full December 2016 Closed Sales Release.

Highlights from the release:

      • December single-family home sales remained essentially flat over last year. (4,779 sales in 2016 from 4,805 sales in December 2015)
      • December single-family median prices went up 3.6% year-over-year (to $355,000 in 2016 from $342,500 in December 2015)
      • December condo sales went down -2.5% and median prices went up 4.6% (to $338,500)
      • Inventory in December went down -35.5% to 11,447 and condominiums available down -31.3% to 3,164
      • SF listings added to the market in December went down -12.7% over last year. (2,453 from 2,810 in 2015)
      • Condo listings added to the market went down -11.0% over last year. (940 from 1,056 in 2015)

 

Pending Home Sales and Market Confidence in Massachusetts Housing Market both up in December and for 2016

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Holiday cheer wasn’t the only thing in abundance in December as both the number of homes put under agreement and prices were up in the final month of the year. This was also true for condominiums put under agreement. This trend was mirrored in the year-end totals for 2016 compared to 2015. Realtors’® confidence in the market was positive again in December as their confidence in prices was down slightly.

December Pending Sales:

Single Family December 2016 December 2015 % Change
Sales 3,430 2,993 14.6%
Median Price $356,950 $342,500 4.2%
  • Pending sales have been up 45 of the last 46 months
Condominium December 2016 December 2015 % Change
Sales 1,198 1,075 11.4%
Median Price $340,000 $323,767 5.0%
  • Pending sales have been up 15 of the last 16 months

Year-End Pending Sales:

Single-Family 2016 2015 %Change
Sales 59,707 54,384 9.8%
Avg. Median Price $352,839 $341,142 3.4%

 

Condominium 2016 2015 %Change
Sales 22,473 21,262 5.7%
Avg. Median Price $319,527 $330,435 3.4%

REALTOR® Market and Price Confidence Indexes:

Confidence Index December 2015 December 2014 %Change
Market 59.76 66.95 12%
Price 70.43 69.70 -1%
  • The Realtor® Market Confidence Index was up for the ninth straight month
  • 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

Year-End

Confidence Index 2016 2015 %Change
Market 73.69 68.20 8%
Price 72.18 73.82 -2.3%

 

Read the full December 2016 Future Indicators Report.

These 10 MA towns experienced the highest increases in sales and price in November

Top-ten_blog_purpleWorcester and Middlesex Counties experienced a boom in closed sales in November, with several towns each topping the list with the highest sales increases over last year. Dighton, MA in Bristol County  experienced the highest increase in median price since 2015.

Closed Sales Percent Increase
1. Warren +450.0%
2. Shirley, Southborough +333.3%
3. Carlisle, Dudley +266.7%
4. Bedford, Dalton +250.0%
5. Blackstone, Leicester +233.3%
6. Foxborough +116.7%
7. Concord +187.5%
8. Westport +177.8%
9. Bolton +175.0%
10. Greenfield +162.5%

 

Median Sales Price Growth Median Price Percent Increase
1. Dighton $435,425 + 81.4%
2. Somerville $975,000 + 59.1%
3. Lunenburg $326,000 + 57.0%
4. Southwick $341,125 + 49.6%
5. Hanover $515,000 + 47.4%
6. Cambridge $1,414,950 + 45.9%
7. Wellesley $1,530,000 + 45.7%
8. Lynnfield $799,000 + 39.6%
9. Palmer $185,000 + 38.6%
10. Agawam $230,750 + 37.4%

*A minimum of ten homes must have been sold in each town during November 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.

Run-up to Election Didn’t Keep Home Buyers on Sidelines as November Sales and Prices Reach New Highs for the Month

Front Porch Of Resedential Home With Autumn DecorationsBuyers didn’t let the presidential election season keep them from buying homes this past fall as closed home sales were up nearly 20 percent in November compared to the same time in 2015. Both sales and median prices for single-family homes reached their highest levels for November since 2004. Inventory continued its downward trend dropping to its lowest level since January 2004. Median prices and sales both rose for condominiums this month.

Read more in the full November 2016 Closed Sales Release.

Highlights from the release:

      • November single-family home sales went up 19.9% over last year. (4,784 sales in 2016 from 3,990 sales in November 2015)
      • November single-family median prices went up 6.0% year-over-year (to $365,000 in 2016 from $344,500 in November 2015)
      • November condo sales went up 14.5% and median prices went up 1.5% (to $339,900)
      • Inventory in November went down -34.6% to 14,300 and condominiums available down -30.5% to 3,887
      • SF listings added to the market in November went down -2.1% over last year. (4,090 from 4,179 in 2015)
      • Condo listings added to the market went up 2.5% over last year. (1,568 from 1,530 in 2015)

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