Prices continue to move up in June

A very active spring real estate market that included low inventory and interest rates starting to tick up from their historical lows has resulted in both sales and prices going up in June. Condominium sales and prices were also up compared to the same month the year before. Realtors across the state are reporting that activity continues to be strong after the 4th of July break. (see graphs below – click on them to enlarge)

Direct link to podcast.

Link to June 2013 housing release

Highlights from the release:

  • Single-family home sales were UP 1.6% compared to last year
  • Single-family median prices were UP 6.9% ($350,000) (9th straight month)
  • Single-family median prices at highest point since August 2007 when the median price was $357,000
  • Condo sales were UP 0.4% compared to the same time last year
  • The median price for a condo was UP 2.9% ($220,000) compared to last year
  • Only third time median price for condo has gone over $300,000-mark

June 2013 SF chart

 

 

June 2013 CC chart

 

 


We also wanted to let you know that because of the change that one the multiple listing services we receive data from made a change in how it categorizes “under agreements”, we are unable to provide inventory, days on market and months of supply data for June 2013. We are continuing to work with our analytics vendor to create a solution.

Massachusetts home sales and prices up in May

The active late winter/early spring market pushed closed sales up in May. While Realtors across the state are reporting that listings are starting to slowly increase, the lack of inventory has driven up prices for single-family homes. However, that is only partially true with condominiums as sales are up, but prices are down. (see graphs below – click on them to enlarge)

We also wanted to let you know that because of the change that one the multiple listing services we receive data from made a change in how it categorizes “under agreements”, we are unable to provide inventory, days on market and months of supply data for May 2013. We are working with our analytics vendor to create a solution. *The statement we used in the release is below.

Direct link to podcast.

Link to May 2013 housing release

Highlights from the release:

  • Single-family home sales were UP 8.5% compared to last year
  • Single-family median prices were UP 8.7% ($325,000) (8th straight month)
  • Condo sales were up 11.6% compared to the same time last year
  • The median price for a condo was Down 1.7% ($292,000) compared to last year

May 2013 SF chart

 

 

May 2013 CCchart

 

 

 

 

*Please Note: Because of the recent change on how the MLS Property Information Network, Inc., classifies under agreement status (“UAG”), year-over-year comparisons of inventory, months of supply and days on market data between May 2012 and May 2013 are not currently possible. The Massachusetts Association of REALTORS® is working with its analytics vendor and the MLS to determine and implement a solution to update historical data to provide for accurate year-over-year comparisons.

Mass. pending home sales hit all time high in April

Despite the low inventory of homes for sale, buyers made a huge push in April to make offers on homes. In fact, the push was so huge that more single-family homes were put under agreement in April 2013 than in any month since MAR began tracking pending home sales data in January 2004. While condos didn’t hit an all-time high, they did hit their 2nd highest total.

Link to April 2013 Pending Sales News Release

 

Here are the highlights:

  • Single-family pending home sales were up 32.8% compared to April 2012 – biggest increase since April 2010 (last month of tax credit)
  • 5,948 is the most homes ever put under agreement in any one month
  • Condo pending home sales were up 37.4% compared to April 2012
  • 2.435 is the 2nd most condos put under agreement in any single month (March 2005 – 2,501 units was the most)

 

April housing chart

Prices up and sales down in March as number of homes for sale goes down again

While buyer activity remained strong strong in March, a shortage of homes for sale has pushed closed sales down for the 2nd straight month after 19 straight months of increases. Median sales prices continued to go up for the sixth straight month as demand has outpaced supply. (see graphs below – click on them to enlarge).

Direct link to podcast.

Link to March 2013 Housing Release (including data sheets)

Highlights from the release:

  • Single-family home sales were down 3/3% compared to last year (2nd straight month)
  • Single-family median prices were UP 7.8% ($290,000) (6th straight month)
  • Single-family inventory had biggest year-over-year drop in March (-29.8%) (down for 12th straight month)
  • Condo sales were up 2.5% compared to the same time last year
  • The median price for a condo was up 8.0% ($270,000) compared to last year

March 2013 SF chart

 

 

March 2013 CC chart

March REALTOR Market Confidence and Price Indexes again hit all-time highs

Today we released the results of the March REALTOR Market Confidence Index (RMCI) and REALTOR Price Confidence Index (RPCI) and both indexes hit all-time highs. While inventory continued to go down in March, activity remained strong and that is reflected in the survey results.

Here are the March 2013 Highlights:

  • Both the RMCI and the RPCI hit all-time highs in March
  • This is the second time that the RMCI was over the 70-point mark.
  • The RPCI has been over the 60-point mark for 11 consecutive months
  • This is the 20th straight month the RMCI was up over the same time last year and the 14th straight month for RPCI.

Hot Topic:
The March “hot topic” question asked REALTORS how prevalent multiple-bid offers have been through the first quarter of 2013 .

Click here to read the full release: March Realtor(R) Market Confidence Index and Realtor(R) Price Confidence Index

Data points:

  • REALTOR® Market Confidence Index in March was 75.52 Up 52% from the same time last year
  • REALTOR® Market Confidence Index in March was UP 5% from February 2013
  • REALTOR® Price Confidence Index in was 78.74. Up 36% from the same time last year.
  • REALTOR® Price Confidence Index in March was Up 13% from February 2013.

What’s being said in the media: March pending home sales

Here are the articles and posts that resulted from the release of our March 2013 pending home sales data. We’ll continue to update this post as more posts and articles come in.

Tuesday, April 9, 2013

Pending Home Sales Bounce Back After Snowy February
Banker & Tradesman

March pending home sales rebound after stormy February
Boston Business Journal

Pending sales for Mass. single-family homes rose 4.6%, Mass. Association of Realtors says
Boston.com

Realtors tout rising Bay State home pending sales
Boston Herald

Big leap in spring sales
BostonRealEstateNow Blog (Boston.com)

Biggest March since 2006 for home sales
CapeCodToday.com (via State House News Service)

Massachusetts Pending Home Sales Show Positive Results in March
LoanSafe.org

Pending home sales rose in March: Prices on single-family homes rose 9 percent, condos up 13 percent
Patriot Ledger

SouthCoast pending home sales up
SouthCoastToday.com (New Bedford Standard-Times)

Pending Home Sales Rebound In March
Worcester Business Journal

Mass. pending home sales rise
Worcester Telegram & Gazette