Massachusetts Closed Home Sales and Median Sales Price Down in May
New listings added to the market points to activity remaining strong through the summer
WALTHAM, Mass – July 14, 2015 – (RealEstateRama) — The Massachusetts Association of REALTORS® (MAR) reported today that single-family home sales in May were down over five percent compared to the same time last year. The median price of single family homes was also down for the first time in eight months. New listings added to the market were up almost eight percent over last year. Condominium closed sales and median prices were both up.
May Closed Sales:
| Single-Family | May 2015 | May 2014 | %Change |
| Sales | 4,157 | 4,384 | -5.2% |
| Median Price | $341,000 | $346,325 | -1.5% |
- Closed sales have been down nine out of the last 13 months
- Median prices down for the first time in eight months
| Condominium | May 2015 | May 2014 | %Change |
| Sales | 2,029 | 1,825 | -10.1% |
| Median Price | $315,000 | $330,000 | +4.8% |
- Closed sales have been down 10 out of the last 13 months
- Median prices up 22 out of the last 24 months
“Low inventory has once again pushed closed home sales down in May. The good news is that new listings are coming on to the market and that is a positive sign for this summer market,” said 2015 MAR President Corinne Fitzgerald, broker-owner of FITZGERALD Real Estate in Greenfield. “More homes for sale will help, but we still need more work force housing and remove barriers to production to make up the gap. This is what the H.O.M.E. Bill (Senate Bill 119) that was jointly filed by MAR and the Greater Boston Real Estate Board will help to create.”
Inventory and Days on Market:
|
Single-Family
|
May 2015
|
May 2014
|
%Change
|
|
Inventory
|
20,622
|
24,964
|
-17.4%
|
|
Months of Supply
|
4.8
|
6.2
|
-22.6%
|
|
Days on Market
|
106
|
99
|
+7.1%
|
|
New Listings
|
10,439
|
9,698
|
+7.6%
|
- 40th straight month of year-over-year inventory decreases
|
Condominium
|
May 2015
|
May 2014
|
%Change
|
|
Inventory
|
5,084
|
6,482
|
-21.6%
|
|
Months of Supply
|
3.0
|
3.9
|
-23.1%
|
|
Days on Market
|
69
|
78
|
-11.5%
|
|
New Listings
|
3,292
|
3,002
|
+9.7%%
|
- 55th straight month of year-over-year inventory decreases
About the Massachusetts Association of REALTORS®:
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 21,000+ members. 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.
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Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook.
by Eric Berman – eberman (at) marealtor (dot) com – 781-839-5507
