Active Spring Market Pushed Massachusetts Closed Home Sales Up in July
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Active Spring Market Pushed Massachusetts Closed Home Sales Up in July

Home owners continued to put more homes on the market 

WALTHAM, Mass – August 26, 2015 – (RealEstateRama) — The Massachusetts Association of REALTORS® (MAR) reported today that ongoing buyer activity in the spring pushed single-family home sales up in July over 19 percent compared to the same time last year. This is the biggest year-over-year increase since September 2013. The median price of single family homes was also up for the 11 time in the last 13 months. New listings added to the market were up almost seven percent over last year. Both condominium closed sales and median prices were up.

July Closed Sales:

Single-Family July 2015 July 2014 %Change
Sales 6,614 5,533 +19.5%
Median Price $365,000 $360,000 +1.4%
  • Closed sales have been up four out of the last 12 months
  • Biggest year-over-year increase in closed sales since September 2013
  • Median prices have been up 10 out of the last 12 months

 

Condominium July 2015 July 2014 %Change
Sales 2,475 2,186 +13.2%
Median Price $339,000 $321,750 +5.4%
  • Closed sales have been up three of the last 12 months
  • Median prices have been up 23 out of the last 26 months

“Busy buyers in the spring means closed sales in the summer, and it was a very busy spring in Massachusetts,” said 2015 MAR President Corinne Fitzgerald, broker-owner of FITZGERALD Real Estate in Greenfield. “While prices are moderating, they continue to be high because the demand is there and the inventory continues to remain low– an issue that has been going on for several years now. Besides sellers deciding to sell, builders building more workforce housing would greatly help this situation.”

Inventory and Days on Market: 

 

Single-Family July 2015 July 2014 %Change
Inventory 21,839 26,550 -17.7%
Months of Supply 4.9 6.6 -25.8%
Days on Market 81 77 -4.9%
New Listings 7,524 7,052 +6.7%

 

  • 42nd straight month of year-over-year inventory decreases

 

Condominium July 2015 July 2014 %Change
Inventory 5,017 6,545 -23.3%
Months of Supply 2.9 3.9 -25.6%
Days on Market 65 68 -4.4%
New Listings 2,390 2,293 +4.2%
  • 57th 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.

by Eric Berman – eberman (at) marealtor (dot) com – 781-839-5507

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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.

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