September always means back to school, but in real estate, this year it meant business as usual. Continuing the market’s hot streak, sales numbers and the median price for single-family homes were up year over year; condominium sales were up, with a slight dip in the median price, according to new data released by The Warren Group, publisher of Banker & Tradesman.

There were 5,430 single-family home sales in the commonwealth last month, up more than 25 percent from September 2014. Year-to-date, there have been 40,461 single-family home sales, an increase of 10 percent over last year.

The median sales price of a single-family home last month was $330,000, up 3 percent from September 2014. Year-to-date, the median sales price is $342,000, up 2.09 percent from 2014.

Condo sales were also strong, though less so. There were 2,059 condo sales in September 2015, up more than 19 percent from 2014. The median sales price was $300,000, down 0.17 percent from September 2014, when the median sale price was $300,500. Year-to-date, condo sales are up 4.8 percent and the median price is up 0.89 percent.

Jim Nemetz. senior vice president at Hammond Residential and manager of the Waban and Chestnut Hill offices, said he thinks the fall market will continue to be strong and that the new TRID regulations will have “no impact whatsoever” on sales numbers.

Nemetz said while pending sales are, of course, an indicator of future sales, so too is broker activity – and the brokers are busy these days.

“When I see my agents all working and broker activity is high, that’s where the rubber meets the road,” Nemetz said. “Right now, it’s good. I don’t know that I would have said that two weeks ago. Fall is a funny market.”

“The fall market is now, October through Thanksgiving,” Nemetz said. “We sell property 12 months of the year, but the time between Thanksgiving and Christmas is slow.”

Nemetz said that at this time of year, many buyers set out to get acquainted with the market and with the inventory that is available in their budgetary and geographical sweet spot, but wind up falling in love with a home and making an offer. Since there’s less competition and fewer buyers in the market, their offers are often successful and they end up buying something a little sooner than they’d planned.

“Very often, fall buyers are really spring buyers in disguise,” Nemetz said.

RE Market Stays Hot As Weather Cools

by Jim Morrison time to read: 2 min
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