Mass. real estate market strong to start 2013 as home sales and prices both up

The Massachusetts real estate market is off to a strong start in 2013 as January median home prices were up for the 4th straight month and sales were up for the 19th straight month compared to the same month the year before. Condo median prices were flat compared to 2012 while sales continued their upward trend in January. (see graphs below – click on them to enlarge).

2012 was a very active year with the most homes sold since 2005. Median prices were essentially flat from 2011.

Direct link to podcast.

Link to January 2013 Housing Release (including data sheets)

Highlights from the release:

  • Single-family home sales were up 13.7% compared to last year (19th straight month)
  • Single-family median prices were UP 5.% ($282,500) (4th straight month)
  • Most homes sold in a January since 2007
  • Single-family inventory had biggest year-over-year drop in January (-27.3%) (down for 10th straight month)
  • Condo sales were up 15.7% compared to the same time last year
  • The median price for a condo was flat ($250,000) compared to last year

January 2013 SF chart

 

January 2013 CC chart