Lack of inventory pushes Mass. home sales down in February as prices increase

After a strong January, a lack of inventory has pushed home sales down in February after 19 straight months of increases. Despite the drop in sales, median prices were up for the 5th straight month. Condo sales and median prices were both up compared to 2012.  (see graphs below –click on them to enlarge).

Direct link to podcast.

Link to February 2013 Housing Release (including data sheets)

Feb 13 home sales arrows

 

 

 

 

 

 

Highlights from the release:

  •     Single-family home sales were Down 5% compared to last year
  •     Single-family median prices were UP 8.9% ($278,000) (5th straight month)
  •     Single-family inventory had another biggest year-over-year drop in February (-28.1%) (down for 11th straight month)
  •     Condo sales were up 1.7% compared to the same time last year
  •     The median price for a condo was UP 12.9% ($257,500) compared to last year

February 2013 SF chart

 

 

February 2013 CC chart