Active Spring Market Pushed Massachusetts Closed Home Sales Up in June
Home owners continued to put more homes on the market
WALTHAM, Mass – July 28, 2015 – (RealEstateRama) — The Massachusetts Association of REALTORS® (MAR) reported today that ongoing buyer activity in the spring pushed single-family home sales up in June by nine percent compared to the same time last year. The median price of single family homes was also up for the eighth time in nine months. New listings added to the market were up almost 12 percent over last year. Condominium closed sales were up, but median prices were down slightly.
June Closed Sales:
| Single-Family | June 2015 | June 2014 | %Change |
| Sales | 6,208 | 5,692 | +9.1% |
| Median Price | $375,000 | $364,900 | +2.8% |
- Closed sales have been up five out of the last 12 months
- Median prices have been up 10 out of the last 12 months
| Condominium | June 2015 | June 2014 | %Change |
| Sales | 2,547 | 2,305 | +10.5% |
| Median Price | $330,000 | $332,000 | -0.6% |
- First time closed sales have been up in eight months
- Median prices down 3 out of the last 25 months
“It was only a matter of time before all the buyer activity this spring would push closed sales up,” said 2015 MAR President Corinne Fitzgerald, broker-owner of FITZGERALD Real Estate in Greenfield. “New listings added to the market are also helping, but we continue to need more inventory in general to ensure we are able to keep this momentum going.”
Inventory and Days on Market:
| Single-Family | June 2015 | June 2014 | %Change |
| Inventory | 21,621 | 26,114 | -17.2% |
| Months of Supply | 4.9 | 6.5 | -24.6% |
| Days on Market | 84 | 89 | -5.6% |
| New Listings | 9,417 | 8,439 | +11.6% |
- 41st straight month of year-over-year inventory decreases
| Condominium | June 2015 | June 2014 | %Change |
| Inventory | 5,029 | 6,598 | -23.8% |
| Months of Supply | 2.9 | 4.0 | -27.5% |
| Days on Market | 63 | 70 | -10.0% |
| New Listings | 3,004 | 2,698 | +11.3%% |
- 56th 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
