The South Coast Real Estate Round-Up

Massachusetts Single Family and Condominium Sales Trends

January 3rd, 2017 5:38 PM by Christopher Terry

Hot of the Press! The Massachusetts Association of Realtors® (MAR) releases November's Year-Over-Year single family and condominium statistics and it looks like all of the election news didn't stop home buyers from being in the market pushing the state wide single family median sales prices to the highest level for November since 2004.

Meanwhile inventory of detached single family homes continued its downward trend reaching it's lowest levels since January 2004.

Median prices and sales for condominiums both rose for the month.

November Closed Sales:
Single Family  November 2016 November 2015 % Change 
Sales 4,7843,990 +19.9%
Median $ $365,000$344,500+6.0%
Closed sales have been flat or up 10 of the last 12 months. Median prices have been flat or up 11 of the last 12 months.

Condominium  November 2016 November 2015 % Change
Sales 1,723 1,505+14.5%
Median $ $339,900$335,000+1.5%
Closed sales have been up for 10 of the last 12 months. Median prices have been up or flat 11 out of the last 12 months.

Inventory and Days on Market:
Single Family November 2016 November 2015 % Change 
 Inventory14,30021,862-34.6% 
 Months of Supply 2.94.9 -40.8% 
 Days on Market75 95 -21.1% 
 New Listings4,090 4,179 -2.1 
58 straight months of year-over-year inventory decreases. New listings added to the market are down for the eighth straight month.

CondominiumNovember 2016 November 2015 % Change 
 Inventory3,887 5,592 -30.5% 
 Months of Supply 2.1 3.2 -34.4% 
 Days of Market59 73 -19.2% 
 New Listings1,5681,530 +2.5% 
Inventory has been down 11 out of the last 12 months. New listings added to the market has been up for the fifth time in 12 months.

The Massachusetts Association of Realtors® is a professional trade organization with more than 24,000 members and was organized in 1924. The term Realtor® is registered as the exclusive designation of members of the National Association of Realtors® who subscribe to a strict code of ethics and enjoy continuing education programs
Posted by Christopher Terry on January 3rd, 2017 5:38 PM

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