Falling Inventory and Rising Prices Finally Catch Up to Closed Home Sales in February

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Plummeting inventory caused single-family closed sales to dip year-over-year in February, as prices continued to rise. This is the 12th straight month of year-over-year increases in median price. Condominium sales also fell compared to last year, while prices saw another increase.

Read more in the full February 2017 Closed Sales Release.


Highlights from the release:

      • February single-family home sales went down -11.0% over last year (2,519 sales in 2017 from 2,830 sales in February 2016)
      • February single-family median prices went up 6.8% year-over-year (to $330,000 in 2017 from $309,000 in February 2016)
      • February condo sales went down -8.8% and median prices went up 7.9% (to $313,000)
      • Inventory in February went down -34.9% to 11,409 and condominiums available down -29.3% to 3,275
      • SF listings added to the market in February went down -12.9% over last year. (4,369 from 5,018 in 2016)
      • Condo listings added to the market went down -10.6% over last year. (1,715 from 1,919 in 2016)

Massachusetts Real Estate Market Starts Strong in 2017

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The 2017 real estate market started strong with the most closed home sales in a January since MAR began recording the data in 2004. Continuing buyer demand pushed closed sales up more three percent over last year. Single-family median prices also saw a hike over last year. Condominium sales and median price closed up in January as well.

Read more in the full January 2017 Closed Sales Release.


Highlights from the release:

      • January single-family home sales went up 3.2% over last year (3,400 sales in 2017 from 3,294 sales in January 2016)
      • January single-family median prices went up 7.4% year-over-year (to $354,000 in 2017 from $329,700 in January 2016)
      • January condo sales went up 4.1% and median prices went up 6.5% (to $330,000)
      • Inventory in January went down -33.6% to 11,259 and condominiums available down -29.1% to 3,211
      • SF listings added to the market in January went down -1.8% over last year. (4,167 from 4,242 in 2016)
      • Condo listings added to the market went up 9.9% over last year. (1,805 from 1,642 in 2016)

Massachusetts Home Sales Flat in December After a Strong Year

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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)

 

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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Closed Home Sales Dip in October for the Third Time This Year

Front Porch Of Resedential Home With Autumn DecorationsHome sales fell in October compared to the same time in 2015, during a year that has otherwise mostly seen an upward trend in sales. Inventory continued to dip this month, dropping to its lowest level since January 2005. Median prices increased again for both single-family homes and condominiums.

Read more in the full October 2016 Closed Sales Release.

Highlights from the release:

      • October single-family home sales went down -5.6% over last year. (4,596 sales in 2016 from 4,870 sales in October 2015)
      • October single-family median prices went up 5.7% year-over-year (to $354,000 in 2016 from $335,000 in October 2015)
      • October condo sales went down -5.8% and median prices went up 2.2% (to $325,000)
      • Inventory in October went down -32.7% to 16,418 and condominiums available down -28.7% to 4,431
      • SF listings added to the market in October went down -11.5% over last year. (5,740 from 6,485 in 2015)
      • Condo listings added to the market went down -8.0% over last year. (2,098 from 2,280 in 2015)

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Slight Increases in Both Closed Sales and Prices Across the Board in August

Front Porch Of Resedential Home With Autumn DecorationsHome 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)

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