Home Sales Down in January as Inventory Remains at Record Low Levels

Closed sales for single-family homes fell slightly in January, while prices rose more than three percent. Condominium sales saw a drop in sales as well, with prices rising over six percent. Inventory dropped to a record low for the month of January. This is the second month in a row that the number of single-family homes for sale has been below the 10,000 mark. Continue reading

Massachusetts Pending Home Sales Up and Market Confidence High in December to Close out the Year and Throughout 2017

Buyers continued to come out and make accepted offers on single-family homes and condominiums in the final month of the year as the number of homes put under agreement and prices increased in DecemberAs a whole, 2017 saw both homes put under agreement and average median prices increase compared to 2016.

December Pending Sales: 

Single-Family  December 2017  December 2016  % Change 
Sales  3,162  2,834  11.6% 
Median Price  $382,500  $358,750  6.6% 
  • Pending sales have been up 11 of the last 12 months 
Condominium  December 2017  December 2016  % Change 
Sales  1,164  1,068  9.0% 
Median Price  $352,500  $342,500  2.9% 
  • Pending sales have been up 10 of the last 12 months 

Year-End Pending Sales: 

Single-Family  2017  2016  %Change 
Sales  57,308  56,605  +1.2% 
Avg. Median Price  $376,292  $353,644  +6.4% 

 

Condominium  2017  2016  %Change 
Sales  22,634  21,896  +3.4% 
Avg. Median Price  $349,163  $331,929  +5.2% 

Read more in the December 2017 Future Indicators Report.

Dip in Closed Home Sales for Month of May as Median Prices Hit All-Time High

Front Porch Of Resedential Home With Autumn DecorationsToday both single-family and condominium saw a slight dip in sales in May from last year. Despite the drop, median home prices for both single-family homes and condominiums hit new all-time highs. Inventory also reached the lowest level for the month of May since MAR began recording the data in 2004.

Read more in the full May 2017 Closed Sales Release.

  • May single-family home sales went down -2.3% over last year (4,930 sales in 2017 from 5,047 sales in May 2016)
  • May single-family median prices went up 9.2% year-over-year (to $385,000 in 2017 from $352,700 in May 2016)
  • May condo sales went down -0.3% and median prices went up 7.9% (to $369,950)
  • Inventory in May went down -30.6% to 13,918 and condominiums available down -26.3% to 3,876
  • SF listings added to the market in May went up 4.1% over last year. (8,968 from 8,611 in 2016)
  • Condo listings added to the market went up 9.8% over last year. (3,125 from 2,846 in 2016)

Closed Home Sales Down in April After Record Inventory Lows and Rising Prices

Front Porch Of Resedential Home With Autumn DecorationsLow inventory and rising prices caught up to the spring market, with single-family home sales decreasing over eight percent from this time last year. Both single-family and condominium prices saw a hike. Condominium sales decreased almost 10 percent from April 2016.

Read more in the full April 2017 Closed Sales Release.

  • April single-family home sales went down -8.5% over last year (3,735 sales in 2017 from 4,082 sales in April 2016)
  • April single-family median prices went up 3.6% year-over-year (to $362,500 in 2017 from $349,900 in April 2016)
  • April condo sales went down -9.5% and median prices went up 4.6% (to $345,000)
  • Inventory in April went down -31.8% to 13,234 and condominiums available down -28.4% to 3,729
  • SF listings added to the market in April went down -9.5% over last year. (7,706 from 8,513 in 2016)
  • Condo listings added to the market went down -11.1% over last year. (2,640 from 2,971 in 2016)