Massachusetts Home Sales Down in December and Down for 2018

Closed sales for both single-family homes and condominiums dropped year-over-year from last DecemberThere was a small drop in median price for single-family homes and condominiums compared to this time last year and the month also saw the lowest number of single-family homes for sale in the month of December since MAR began reporting the data in 2004.

Year-end data for 2018 shows that total closed sales have had a two percent decrease for both single-family homes and condominiums. The year also saw an increase in average median prices for both single-family homes and condominiums compared to 2017.  Without an increase in inventory in 2019, closed sale decreases and median price increases are trends that will likely continue.

Read more in the December 2018 and Year-End Closed Sales Release

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Massachusetts Pending Homes Sales Up in December and Year-End Pending Home Sales Up From 2017

Buyers stayed engaged in the process through the month of December and continued to come out and make offers on homes. The number of single-family homes put under agreement in the month of December rose almost 10 percent over the last year, marking a full year of year-over-year increases. The median price for both pending single-family homes and condominiums fell compared to December 2017.

Year-end data shows there was an increase in total pending sales for single-family homes and condominiums in 2018 compared to last year. This year also saw an increase in average median prices for single-family homes and condominiums.

Read more in our December and Year-End Pending Sales Report

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November 2018 Inventory of Single-Family Homes and Condominiums Still at Record Monthly Lows

Closed sales for both single-family homes and condominiums dropped year-over-year from last November. There was an increase in median price for single-family homes and for condominiums compared to this time last year. November saw the lowest number of single-family homes and condominiums for sale in the month of November since MAR began reporting the data in 2004. 

Read more in the full November 2018 Closed Sales Release.

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The Number of Massachusetts Single-Family Homes Put Under Agreement Up in November

The number of single-family homes put under agreement in the month of November rose two percent over the last year, marking full year of year-over-year increases. However, condominium pending sales for the month fell from this time last year. From November 2017, the median price for pending single-family homes and condominiums saw over a four percent hike to $397,000 and a one percent hike to $375,000, respectively. 

“Thanksgiving preparations and Black Friday shopping didn’t stop home buyers from finding time in November to make offers on single-family homes,” said 2018 MAR President Rita Coffey, general manager of CENTURY 21 Tullish & Clancy in Weymouth. “Even though prices are ticking closer to the $400,000 mark, with pending sales being up for the past 12 months, home buyers are showing us that the demand is still there.” 

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Single-Family Homes Put Under Agreement in October Marks Full Year-Over-Year Increase

The number of single-family homes put under agreement in the month of October increased over last year while condominium sales saw a decrease. Seeing the increase of single-family homes put under agreement marks a full year of year-over-year increases. From October 2017, the median price for single-family homes and condominiums both saw a hike at five percent and four percent, respectively.

“In between apple picking and leaf peeping, home buyers found time this October to make offers on single-family homes in Massachusetts,” said 2018 MAR President Rita Coffey, general manager of CENTURY 21 Tullish & Clancy in Weymouth. “Prices remain close to that $400,000 mark despite the usual cooling off from the summer market.”  Continue reading