
In March Home-Sales Data, Flickers of Hope for a Looser Market
Massachusetts home sales ticked down last month and prices rose again, even before the latest bout of economic uncertainty clouded over the nation.
Massachusetts home sales ticked down last month and prices rose again, even before the latest bout of economic uncertainty clouded over the nation.
Sales activity increased in February, a possible indicator that buyers may indeed be coming off the sidelines even as the number of homes coming onto the market shrank further.
The number of home sales rose 16 percent year-over-year last month, and the annual median single-family sale price ended the year up 7.9 percent.
The statewide median single-family sale price hit $600,000 in Massachusetts in November even as lower buyer demand – linked to election worries, in one observer’s eyes – kept year-on-year increases low.
According to data from The Warren Group, publisher of Banker & Tradesman, single-family home sales increased 11.6 percent year-over-year.
While home prices continue to rise across the state, the number of sales took a downward turn after showing positive year-over-year growth in August.
In August, prices continued to rise but so did sales, signaling that the demand is there in the single-family market.
The month of July saw home prices reach an all-time high but home sales also managed to skip upwards. Still, the state has a long way to go to become a balanced market, a top market-watcher says.
Statewide sales of single-family and condominium homes are ticking up in the wake of an increase in home listings in many of Massachusetts’ housing markets while home prices also rose.
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.
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.
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.
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.