Buyer demand remained strong this May, pushing prices up and home sales down for the fourth straight month. (see graphs below – click on them to enlarge) This has been on ongoing trend, as the median selling price for single-family home increased year-over-year for the 20th straight month. The condominium market had similar results with prices up and sales down.
According to data from the Case-Shiller Home Price Indices, a measure of U.S. home prices, Boston was the only city out of 20 to see its annual rate improve.
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Highlights from the release:
- May single-family home sales – Down 9.9% over last year. (4,300 sales in 2014 from 4,772 sales in May 2013)
- May single-family median prices were UP 7.0% to $347,900. Twenty straight months of increases.
- May condo sales down 1.1% and median prices UP 9.0% ($316,000)
- Inventory in May down 7.9% to 21,818 and condominiums available down 21.5% to 5,507
- SF listings added to the market in May UP 4.1% over last year. (9,674 from 9,294 in 2013)
- Condo listings added to the market down 3.7% over last year. (2,981 from 3,095 in 2013)