Mass. Single-Family Sales Flat, Median Price Spikes
The report comes after economists at listing portals Redfin and Zillow reported last week that Greater Boston saw an uptick in new listings in February.
The report comes after economists at listing portals Redfin and Zillow reported last week that Greater Boston saw an uptick in new listings in February.
With home sales effectively flat across the state last month, January offered few signs of encouragement that the 2024 housing market will be a significant improvement over last year’s.
The statewide housing market ended 2023 with record-low numbers of home sales, but a narrowing year-over-year gap in numbers of newly-listed single-family homes.
Massachusetts home sales followed a familiar pattern in November, with the numbers of both single-family houses and condominiums dropping by double-digit percentages while both property types’ median sale price marched upwards.
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The statewide median home sale price jumped by double-digits last month following a resurgence in buyer interest this fall, according to new data, even as a prominent Realtor group noted an uptick in price reductions in recent months.
The latest data on the Massachusetts housing market shows that fewer houses sold across the state last month than any September since 2010, when the state was still in the grip of the Great Recession.
Home prices rose at a faster clip in August than at any time this year as record low housing inventory kept buyers outnumbering sellers.
New data shows that a tiny proportion of Boston-area homes are selling for less than their owners paid thanks to a supply of homes for sale that’s shrunk much faster than demand as interest rates rose over the last 18 months.
In what’s become a familiar refrain for Massachusetts housing market-watchers, a trio of data reports issued Monday showed for-sale inventory significantly down in July, and prices rising.
Sales activity for both single-family homes and condominiums declined in June on a year-over-year basis, as median sale prices reached new all-time highs, according to a new report from The Warren Group.
The median sale price of single-family home in Massachusetts dropped compared to the same month a year prior, although by only $1,000.
Homeowners continued to hold off from putting their homes on the market last month, putting a squeeze on buyers even as stabilizing mortgage rates appeared to draw more of the latter out of the woodwork, according to a trio of new data releases about the Massachusetts housing market.
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High mortgage rates and low inventory helped simultaneously support a rise in the state’s median home prices in February while giving a further kick to the total numbers of homes sold, experts say.
Home sales activity plunged again in January, new data shows, but an uptick in pending sales has some observers wondering if buyer demand will return this spring stronger than fall’s weak showing.
The tail end of Massachusetts’ fall home sales are finally winding their way through the closing process, and the results aren’t pretty: numbers of single-family and condominium sales are down by big double-digit percentages year-over-year.
Massachusetts homebuyers and sellers kept staying away from the housing market last month – so many, in fact, that the number of closed single-family sales was lower than October since the Great Recession ended in 2012.
Single-family home and condo sales declined across Massachusetts in September as mortgage rates rose, while inventory remains in short supply and a leading Realtor says Greater Boston’s sellers’ market has come to an end.